Once upon a home, buying a home was as simple as saving some dough, spending a couple of weekends visiting Open Houses and writing up a contract. The time frame from house hunt to move-in was a couple of months, max. These days, super-tight mortgage guidelines, market concerns, distressed sales and appraisal dramas complicate and prolong both buying and selling.
If you need to pull both buying and selling off at the same time, it can seem like you’re signing up for these complications, squared. On top of that, the very real prospect of spending some time homeless takes the stress of home buying and selling to an entirely new dimension.
Fortunately, getting yourself educated about what to expect on today’s market and knowing all your options empowers you to obliterate panic with a strategic approach, an amazing logistics plan (and backup plan) and comprehensive preparedness for all possible outcomes. In that vein, here are four need-to-knows for those who want or need to sell their current home and buy a new one, at the same time.