When you’re in the market to buy a home, it’s an exciting time in your life; It truly is like starting a new chapter in your book of life, but most people in the market to buy face the dilemma of figuring out what they should do first.
Should I sell my home first or should I buy first and then sell?
This is the question that baffles many homeowners looking to sell their homes. There’s a lot that goes into this decision. Your personal finances, how soon you need to move, and the state of the market are all determining factors in whether buying or selling first will benefit you most.
To simply put it:
Selling first is going to benefit homeowners looking to sell in a buyers’ market, whereas buying first is going to benefit homeowners looking to sell in a sellers’ market.
In a perfect world, people would be able to buy and sell at the same time, but that’s practically impossible because the odds of a home selling at the same time as the purchase of a new home are pretty slim… right?
Not at all.
Buying and selling a home at the same time is very possible. How? With a Compass Bridge Loan. Bridge loans ease the transition from one home to another by using the equity from your current home to help finance your new home until your old home is sold. Once your old home sells, you can then use that money to repay the bridge loan… Bridge loans allow you to buy first, stress-free.
With a Compass bridge loan, your old home won’t interfere with the purchase of your new home. A dedicated Edwards Estates Group agent will work with you to help you buy the home of your dreams, and once your old home sells, you can then repay the loan with the earnings from the sale of your old home.
So don’t let your old home delay your transition to a new chapter in your life. Talk to a Edwards Estates Group | Compass agent today to get your home buying and selling process started.
When looking for a mortgage, it’s important to find a company that specializes in mortgages above all else, and to find a lender that can address your unique home-buying or refinancing needs, regardless of how unique your circumstances may be. That’s the Freedom Mortgage difference.
Available to serve customers in all states.
Better Mortgage is making homeownership simpler, faster, and most importantly, more accessible for all Americans. No commission, an easy digital process, and award-winning service are just a few of the ways Better Mortgage is redefining what it looks like to get a mortgage.
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