Posted on June 10, 2013Comments: 0
The real estate market in Grand Rapids is really picking up. Are you thinking of selling your old home and buying a new one? Buying and selling at the same time can be challenging. Here are a few tips to help you along the way:
Be prepared for anything. For most people this is a stressful process, but it doesn’t have to be. You are going to have to wade through things like, maybe having two mortgages at a time, or finding temporary housing. Make sure to use professionals (a great lender, and Realtor) who deal with these things all the time to take away that stress from you.
The first thing you will want to do is find a good mortgage lender. Knowing where you stand financially up front will help you make a plan. Find a local mortgage lender who can help you figure out what you need financially, what you need for a down payment, etc. Going through a pre-approval process usually helps show you the big picture. You want to make sure your credit is in good shape, you don’t want to sell your house first only to find out later that you can’t buy a new house with your current credit score.
Second, find a good Realtor. When meeting with a Realtor, ask a lot of questions. A good Realtor should be knowledgeable about your neighborhood and know what the market is doing near you and in the area you want to move to. Meet with them early on when you decide that buying and selling is something that you want to do. They can tell you what your home is worth and what you can expect to sell it for.
Now make a plan. Research all your options, look at temporary housing if you need to. See if you can make a contingency that your house must sell before you buy. Work with your Realtor and your mortgage lender to see what all you can do to help your plan run more smoothly. If everyone is on the same page and communicating openly, acting our your plan should be a breeze.
Overall just get your ducks in a row by meeting early with a Realtor and a Mortgage Lender early on. Have them help you make a plan for every possible snag. The more you can research and plan ahead of time the more you will decrease the amount of stress that goes into juggling buying and selling at the same time. Right now is a great time to buy and sell real estate in the Grand Rapids area just call us today to get started . We are a local Grand Rapids Mortgage Company and would be happy to help!