Buying and Selling Homes at the Same Time

Written by Zachery Adam

June 29, 2020

Buying and Selling Homes at the Same Time

Buying and Selling Homes at the Same Time

If you currently own a home but are looking at selling it to buy a new home, how exactly do you navigate that process? There are so many moving parts of buying and selling homes from your own financing to that of the other buyer. And, to make it more complicated, they may also be selling a home. For some buyers, you may be selling and buying in two different cities or even states. With all the puzzle pieces that have to fit together, it can be overwhelming to even start the process. Here are some tips from mortgage experts to help you get started.

The Domino Effect

You own a home that you want to sell. You found a home that you want to buy. You need to sell your home before you can complete the deal on the home you want to buy. But what about your buyer? They may also have a home they need to sell to make their transaction happen.

The more moving pieces there are, the bigger the chance of a domino effect. All the pieces will either fall at once or you may find yourself at a sticking point.

While the situation is complicated, it’s far from impossible. It happens all the time, and working with trained professionals will make all the difference.

Building a Coordinated Team

You have a seller’s agent. They may also be your buyer’s agent. So, of course, you need to build a great relationship with them. You will also have your mortgage lender who will handle all the financials to ensure that you can buy your new home.

This may be contingent on selling your other home and if there are any delays with that process, it could impact your purchase. This is why building a coordinated team is essential. You need them to be responsive, communicative, and reliable. While you may not be able to control the team the other party chooses, you absolutely have to be able to depend on your own.

Get Your Finances in Order

Whenever you buy a home, you’ll need to have your finances in order. But buying and selling homes at the same time is a delicate dance. Sometimes the money you need to buy a new home is tied up in your current home.

A good independent mortgage lender is exactly the right person to have on your team. They can work with you throughout the process to ensure that your investment is working for you, the money is accounted for, and things can be signed, sealed and delivered as quickly as the pieces come together.

Know What You Want

What’s most important is that you know what you want. We know that sounds overly simplistic, but here’s the thing: if you need to sell your home in order to buy a home, you can’t put the cart before the horse.

This can be even more complicated if you’re selling in another state to buy your Asheville dream home. You may be tempted to buy your new home first, but that may not always be the best solution. However, in some cases, it might work out for you. Whatever you do, talk with the professionals to ensure you’re not forcing ill-fitting puzzle pieces together.

Do you want to know more about buying and selling homes at the same time? GoPrime Mortgage of West Asheville can help you with the process. Feel free to send us a message or call us.

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How we can help you

Although labeled an independent mortgage lender, GoPrime Mortgage, Inc. is not a one-man operation. Zachery Adam and his Team has the support of a streamlined operation, with professionals who assist in every phase of the loan process. His team includes an appraisal vendor, loan processors, underwriters, closers and even the CEO or president if needed. When you choose to work with Zachery, you get the support of his team as well.

Zachery Adam

It’s important to Zack that he and his team are approachable and can provide assistance to home buyers who are often inundated with misinformation about the financial picture and mortgage options. In an automated culture reliant on digital communication, it’s time to put the human element back into these conversations. He could never be behind the scenes.

When you apply securely online with GoPrime Mortgage, Inc., we will contact you within 24 hours or less.

We want to be more than your mortgage lender.

The company, like Branch Manager Zachery Adam, wants to become the go-to destination for people who have questions about real estate financing and the mortgage application process. Applying for a mortgage can be a frightening process at a bank. GoPrime Mortage, Inc. aims to keep the process simple.

Our mission is to:

  • Provide holistic mortgage planning for every customer
  • Offer simple, strategic solutions for all homebuyers
  • Supply reliable services for real estate investors
  • Educate the public on the mortgage process
  • Keep the mortgage process simple for all customers
  • Inform real estate agents of the latest mortgage news

In short, GoPrime Mortgage, Inc. will provide complete, inclusive mortgage solutions that are educational, transparent, honest and sincere. No other bank or independent mortgage lender can beat the service and prices — the complete package — that GoPrime Mortgage, Inc. offers.

 

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862 Haywood Road Asheville, NC 28806

828-348-1907

WestAsheville@GoPrime.com

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