Expert Advice on Selling, Buying, and Moving into Properties

Welcome to my new video blog where I'll be sharing real estate advice with you, as well as going over many other informational topics in relation to the real estate industry.

As of lately, many of my clients have been asking me whether or not they should start looking for an additional property before they sell their own home. There are 2 answers to this question:

1. If you plan on renting your current property, then there is nothing wrong with that as long as you qualify for an additional property. In fact, I think that is a good option.
2. If you're going to use the proceeds from your current home to finance your second one, then you will need to sell your home.

In this case, if you need to sell your home before you purchase your second one, here are a few pointers to help you in that process:

• Get your property listed, marketed, and sold before you go and search for another home.
• Your agent will need to write in contingencies that make the sale of your current property contingent upon the purchase of your next one.
• You will also need to know: what your property will sell for, how long it will take to sell, and what you will end up netting. This is because your buyer may choose not to move forward as a result of inspections or qualifications. You have to protect yourself in the case of this happening.

In short: You need to identify your home's worth, get it marketed, listed, and sold in Escrow. You must also have your buyer remove contingencies relating to appraisals and inspections so that you can end up netting the amount of proceeds that will benefit you in the purchase of your next home.
Sticky situations such as these often require the council of an expert like myself, so if you still don't know what to do with your property, then come to me and I would be glad to assess your situation for you.

As always, I appreciate your support.

Call me for a free consultation at (818) 267-7995 or email me at ericdelgado@kw.com