Real Estate Industry Secrets to Buying & Selling Your Home Quickly

Real Estate Industry Secrets to Buying & Selling Your Home Quickly

  • Laura Rice
  • 07/12/23

Are you ready to move on from your current home? Whether getting ready to move into your forever home or relocating to the area, moving on to the next stage of your life can be incredibly exciting. Still, if you're trying to buy a new home while selling your current home, it can be challenging to navigate both simultaneously. While you're trying to pack away everything you own, you're also trying to make sure your house is ready for the market, all while trying to find a new home to move into.

And one of the most difficult aspects of all of this is getting the timing right. How do you make sure you find the right home while trying to sell your current one? How do you time everything out perfectly without stressing yourself out? From marketing to house hunting, here's how to navigate buying and selling a home at the same time.

Buyer tips

Prioritize what you need in your new home

When buying your first home, what was most important to you? It could have been having your own home office or your very own guest room. What were the things you needed back then? Now think about how your life has changed since then. If your family has grown during that time, maybe you need more space for your kids or additional living space for extended family members.

Does your current lifestyle fit your current home? If not, think about what you need from your new home that your current home doesn't already give you. Regardless of your reasons for moving, make a wish list for your new home and prioritize what matters most.

Stay on budget

While making a wish list for your home is essential, the most important thing you will need to keep in mind during your house hunt is your budget. How much can you afford? If you are selling your current home simultaneously, will the proceeds you get from your sale be enough to cover the cost of your new home?

If you need to sell your current home to purchase your new home, you'll need to determine whether or not you'll need a home sale contingency on your offer. There are many pros and cons to adding a home sale contingency, and what you decide to do will ultimately depend on how competitive your real estate market is. For many homebuyers, selling their current home is their only way to afford a new one. Regardless of how you are going to pay for your new house, sticking with your budget is essential.

Be decisive

Trying to buy a house while selling your current property is no small task. At times, it can feel like trying to spin many different plates while making sure none of them fall to the ground. Searching for a new home can be one of the most exciting aspects of this journey, as you find a home that fits your lifestyle while giving you what your current house cannot provide. So when you finally find the perfect home, you must act fast! Depending on your real estate market's competitiveness, you might not be the only one eyeing up that specific property. Submit your strongest offer possible so that the seller is more likely to choose you. Remember, indecisiveness is a luxury you no longer have when you need to move out of your current home and into a new one. When you find the right home, be ready to act on it quickly.

Seller tips

Figure out what you need from the sale

Selling your house while trying to find a new home can be an overwhelming experience. You have so many things to think about all at the same time. But if you want your move to be successful, you'll need to keep a focus on your goals. How much money do you need to earn from selling your house? If you still owe a mortgage, you will need to pay the remaining balance. You must also pay closing costs and any outstanding liens or property taxes. Once all that is squared away, you can use the remaining funds for anything you need — even a down payment on your brand-new house.

Along with profits, you'll also want to think about your timeline. When do you need to move to your new home? Keep all of this in mind as you begin marketing your home.

Make your home showroom-worthy

Now that you know how much you need to earn on the sale, you need to make your home as attractive to prospective buyers as possible. If you are working with an agent, they will likely recommend different marketing strategies to get your home out there. In return, you will need to do everything you can to ensure your home is ready for the market. Some recommendations will include the following:

  • Hire a professional stager to showcase each room
  • Declutter every space in the house
  • Clean your home from top to bottom, inside and out
  • Give your yard the best curb appeal possible
  • Hire professional photographers/videographers to highlight the best features of the home
Once your house is market-ready, it's only a matter of time before you attract enthusiastic, qualified buyers ready to submit an offer.

Price your home competitively

While marketing plays an integral role in selling your house quickly, pricing is one of the most important pieces of the puzzle. Regardless of how much money you hope to earn on the sale, you must price your home at or below fair market value. While it may be tempting to price your house higher, it could deter buyers’ interest. You may also get buyers who will lowball your offer below its fair market value. If you want your home sale to succeed, make sure your house is priced well — you could even get an offer above your asking price.

Buyers & sellers: hire a local expert

When you are buying and selling your home at the same time., it can be overwhelming when figuring out where to start. By working with a local real estate expert, you can not only get your home sold faster, but you can also make the transition much smoother. By working with the right agent, you can remove the worry and stress from your transaction.

Make your move

Are you ready to make your move to St. Matthews? Whether you're buying or selling your home, you need a real estate agent you can depend on. With vast industry experience on her side, Laura Rice is your trusted resource in St. Matthews, KY, real estate. No matter what your budget or your timeline looks like, Laura will work tirelessly to help you accomplish your real estate goals. Contact Laura today for a free consultation.

Work With Laura

Laura is uniquely qualified to identify potential contract issues, making sure you are protected and your transaction happens as smoothly as possible. She is committed to providing exceptional client service all while developing a long-term relationship with you that will remain well beyond the final transaction.

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