Yesterday’s victory is today’s baggage.
In the real estate arena, if you presently own a home, it may be an asset or a liability depending on it’s current value.
Most certainly, it will complicate the process.
What comes first, the chicken or the egg?
Do you sell first, or buy first? Do you do both simultaneously?
How do you minimize your risk?
How do you maximize the value of your home while getting the best “deal” on your next venture?
There are so many variables that come into play, but for most people the financial aspect is the dominant theme.
Practically speaking, most home owners are better off making their next purchase contingent upon the sale of their current home. There will obviously be a host of people that fall outside that general rule of thumb.
Counseling and establishing a game plan with the help of a seasoned real estate pro will allow you to move forward confidently while navigating the many pitfalls that abound in these more complicated transactions.
Locating a qualified buyer is only a piece of the puzzle: Equally important is structuring the terms to allow you the wiggle room to proceed with as little risk as possible.
Before becoming emotionally involved with any particular house, spend a few minutes discussing your unique needs and then take the leap.