Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners)

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Rainmaker
867,969
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

This appears to be a duplicate question so pleeeeze delete one of them.
To answer, it depends on what his financial ability is. Is he paying cash for one or the other of the homes? Can he afford to to make two mortgage payments? If he gets the price that he wants for his home, how much buying power does that give him? A lot of questions here. How is your rental market? Can he afford to rent for 6 months to a year while he finds the right home?

Apr 02, 2018 11:25 AM
Rainer
303,211
Caroline Gerardo
Sun West Mortgage Corporation - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Get credit and income all lined up. They can do a bridge loan on house listed for sale and purchase

Apr 02, 2018 11:41 AM
Rainmaker
5,361,149
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Praful,

Caroline Gerardo gave you a great answer. A

Apr 02, 2018 11:54 AM
Rainmaker
6,363,353
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Buy first if possible.

Apr 02, 2018 11:42 AM
Rainmaker
3,953,266
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

I ask lots of questions and carefully listen. Each situation is different. 

Apr 02, 2018 11:36 AM
Ambassador
2,545,009
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  1.  Challenging as in Sellers market or Buyers market?

  2.  What is their financial position?   Can they afford to own 2 houses at the same time? 

Apr 02, 2018 11:27 AM
Rainmaker
1,716,596
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

You have to counsel your client to find out what would be the best strategic plan based on their needs and finance.

Apr 02, 2018 06:49 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I was at a meeting recently where they suggested a sale with a leaseback until the new home is secured.

Apr 02, 2018 06:01 PM
Ambassador
3,000,239
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

If they can qualify and hold two mortgages, buy first.  Contingent offers are not possible in my market. 

Apr 02, 2018 05:18 PM
Rainmaker
290,569
Allie Angeloni
Long Realty - Oro Valley, AZ

My first question is, does my seller need the funds from house #1 to purchase house #2 Praful Thakkar.  If not, then I would go 'house shopping'!  If my seller needed the funds from house #1, then I would have that house on the Market, and depending if it was Under Contract in a day or a week or a month, I would then start seriously looking for house #2.  Having a home Under Contract with an Accepted Offer is of more value than not having their home on the Market, or having it on the Market with no Offer.  So, 'finances' would be my first question!  Good Luck to have a 'buy and a sale' with the same folks!

Apr 02, 2018 01:19 PM
Ambassador
4,490,056
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Depends on their financial situation. Are they willing to rent until they find something? Can they afford 2 mortgages? And see what Caroline Gerardo has to say!

Apr 02, 2018 01:15 PM
Rainmaker
1,361,113
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Sell first with a home of choice contingency.  Most sellers won't accept a contingent offer in this market.

Apr 02, 2018 12:08 PM
Rainmaker
2,609,744
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I would explore all options which will disclose the up and down sides and then choose with confidence & proceed from that Happy ending guaranteed

Apr 02, 2018 11:30 AM
Rainmaker
1,509,802
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

Or sometimes to rent for a year or two.

Apr 02, 2018 11:28 AM
Rainmaker
709,204
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

The chicken and egg dilemma. It depends on the market and their financial situation if they need to sell before buying to qualify for a mortgage.

Apr 03, 2018 06:08 AM
Rainmaker
4,015,345
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Asked and answered just seconds ago!

Apr 02, 2018 02:31 PM
Rainmaker
3,901,348
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I think the AR gremlins are back at it,m Praful... I know I already responded to this question once before.

Apr 02, 2018 12:51 PM
Rainmaker
3,069,684
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Candice A. Donofrio nailed this one!

Apr 03, 2018 06:13 AM
Rainmaker
4,433,483
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Depends

Apr 03, 2018 05:46 AM
Rainmaker
4,799,306
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Can they do a bridge loan?  Do they have an emergency place to move to?  I would check out all options.

Apr 03, 2018 05:37 AM
Rainer
44,741
Dan Capra
LAER Realty Partners - Lowell, MA
Listing/Buyer Agent

sell first get top dollar..if they cant find their dream home to move in to, they can rent and actively look

Apr 03, 2018 04:50 AM
Rainmaker
938,789
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

It depends on many things...resources (finances), local market, etc. Not enough information to give a good answer.

Apr 02, 2018 11:41 PM
Ambassador
4,089,133
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

It all depends upon their lending situation - if we can be prepared to list and they can carry two mortgages temporarily, we get them in their purchase, THEN list. The key is doing it without an contingencies and working hand-in-hand with the lender.

Apr 02, 2018 08:04 PM
Rainmaker
5,570,625
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

the answer depends on the details of the sellers' financial status.... not a simple answer....

if there must be a simple answer, sell first.... the buyer will wait or cut the lace of his panties and let 'em run.... the seller holds the trump card.

Apr 02, 2018 04:02 PM
Rainmaker
806,557
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

They could do it simultaneously, but don't recommend listing "subject to seller finding a new home"; always hate to show those. Also depends if they can afford to buy without selling and also if seller willing to move out before buying.

Apr 02, 2018 02:10 PM
Rainmaker
1,836,623
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

Praful Thakkar I'd say it depends on what they can afford to do. Can they buy and make two payments for an extend period of time if their house doesn't sell. Can they afford to rent for an extended amount of time if they sell fast and then have a hard time finding a suitable home to move to. I'd say it's all in their finances.

Apr 02, 2018 02:10 PM
Ambassador
3,986,518
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

In my market find the home, buy it if at all possible then move and sell.

Jul 04, 2018 07:41 PM
Rainmaker
3,831,519
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Buy first if they can do it that way.

 

Apr 06, 2018 04:57 PM
Rainmaker
4,729,721
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

It depends on the client, some want to buy first and move and not have the inconvience of the showings, but not all homeowners can afford this.

Apr 05, 2018 08:21 AM
Rainer
54,843
Joe D'Agostino
NMLS# 729950 - Manahawkin, NJ
Mortgage Officer 46 years!

I am sure you are aware that the inventory shortage is causing sellers to be very cautious. I believe the answer to some of this must be New Housing starts. My wife (a Realtor) has several people wanting to sell and live in  my community, but the inventory is so low the are afraid if they sell, they can't find a home. Builders can offset the inventory shortage.

Apr 05, 2018 07:41 AM
Rainer
22,854
Andrea Moore
Welcome Home Loans, LLC - Winter Garden, FL

Depends if they can carry two mortgages.

Apr 03, 2018 07:05 AM