We’ve all heard the old saying about being caught between a rock and a hard place. Well, unfortunately, that’s where most homeowners find themselves when they decide to move from one home to another. The biggest dilemma when considering purchasing another home is deciding whether to buy first or sell first. Either way is risky because you could end up owning two homes or no home at all!

To avoid both of these equally bad scenarios, your realtor will have to develop a plan of action that will ensure you close on both transactions on virtually the same day. To do this, your realtor will first assess the market to determine if it’s a seller’s market or a buyer’s market. This information will decide what you do first—buy or sell?

What To Do In A Buyer’s Market
In a buyer’s market, there are more homes available than people looking to buy. In a buyers market, you’ll likely have an easier time finding your new home than you will selling your old home. That being said, it’s wise to sell your home first in this type of market, since you’ll have a harder time doing so. In this case, you’ll list your house first, and once you have an offer in hand, you’ll start looking for your new home. When you find a house you love, you’ll submit an offer with a settlement contingency, which means you’ll buy the home contingent on the sale of your existing home closing. You wouldn’t want to buy your new home first in a buyer’s market, because your old home might sit on the market for longer than you want, and you could miss your closing date!

What To Do In A Seller’s Market
In a seller’s market, there are more buyers in the marketplace than there are homes available. In a seller’s market, your current home will likely sell more quickly than you’ll be able to find a new home. Since it will be harder for you to buy in this market, you should focus on finding a new home before you list your old one. Once you find a house you love, you’ll submit your offer with a sale and settlement contingency, which means you’ll buy the home only if you can successfully sell your existing home. You can also request an extended closing past the typical 30-45 days if you’re confident your home will sell, which it likely will in a seller’s market. You wouldn’t want to sell first in a seller’s market, because it’s pretty much guaranteed that your home will sell. However, it’s not guaranteed that you’ll find a new home in time! Selling first would pressure you to choose on a house you don’t truly love, or you could end up without a home at all!

Debbie & Sarah’s Guarantee
This financial and emotional tightrope of deciding whether to buy or sell your home first, is one many homeowners feel they have to walk alone. However, Debbie, Sarah, and The Reynolds Team have developed a new and innovative program that actually guarantees the sale of your home and takes away the stress of owning two homes or none at all when going to purchase another house. We call this scenario, “The Real Estate Catch 22,” and developed the “Guaranteed Sale Program” as an insurance policy for our clients. We Guarantee We Will Sell Your Home Or We Will Buy It!* Never worry again about missing out on your dream home, owning two homes, or none at all!
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Don’t get stuck owning two homes! BUY THIS HOME, WE WILL BUY YOURS!* No Gimmicks! If you are looking to buy a home but have one to sell, you are finding yourself in the same dilemma that most homeowners find themselves in. We can help! To discuss the details of this incredible option, CALL The Reynolds Team directly at 703-297-4251. Visit us at RTRSells.com.