1,052,211
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?
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Tony and Suzanne Marri...
Scottsdale, AZ
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Allie Angeloni
Oro Valley, AZ
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Michael Jacobs
Pasadena, CA
417,221
Get credit and income all lined up. They can do a bridge loan on house listed for sale and purchase
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Bob "RealMan" Timm
Minot, ND
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Olga Simoncelli
New Fairfield, CT
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
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Fred Griffin Florida R...
Tallahassee, FL
5,772,575
Praful,
Caroline Gerardo gave you a great answer. A
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Nina Hollander, Broker
Charlotte, NC
7,836,134
Buy first if possible.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
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Allie Angeloni
Oro Valley, AZ
4,572,183
I ask lots of questions and carefully listen. Each situation is different.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Allie Angeloni
Oro Valley, AZ
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Nina Hollander, Broker
Charlotte, NC
2,684,009
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?
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Allie Angeloni
Oro Valley, AZ
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Michael Jacobs
Pasadena, CA
2,220,323
You have to counsel your client to find out what would be the best strategic plan based on their needs and finance.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
6,393,404
I was at a meeting recently where they suggested a sale with a leaseback until the new home is secured.
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Bob Crane
Stevens Point, WI
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
3,345,091
If they can qualify and hold two mortgages, buy first. Contingent offers are not possible in my market.
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Bob Crane
Stevens Point, WI
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
290,969
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!
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
5,049,183
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!
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
1,502,998
Sell first with a home of choice contingency. Most sellers won't accept a contingent offer in this market.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Allie Angeloni
Oro Valley, AZ
2,781,173
I would explore all options which will disclose the up and down sides and then choose with confidence & proceed from that Happy ending guaranteed
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
1,622,432
Or sometimes to rent for a year or two.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
716,049
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.
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Bob "RealMan" Timm
Minot, ND
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Candice A. Donofrio
Fort Mohave, AZ
5,216,398
Asked and answered just seconds ago!
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
5,104,931
I think the AR gremlins are back at it,m Praful... I know I already responded to this question once before.
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Bob "RealMan" Timm
Minot, ND
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Allie Angeloni
Oro Valley, AZ
3,071,489
Candice A. Donofrio nailed this one!
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Candice A. Donofrio
Fort Mohave, AZ
4,434,127
4,800,082
Can they do a bridge loan? Do they have an emergency place to move to? I would check out all options.
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Bob "RealMan" Timm
Minot, ND
44,891
sell first get top dollar..if they cant find their dream home to move in to, they can rent and actively look
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Bob "RealMan" Timm
Minot, ND
1,090,637
It depends on many things...resources (finances), local market, etc. Not enough information to give a good answer.
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Bob "RealMan" Timm
Minot, ND
5,230,068
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.
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Bob "RealMan" Timm
Minot, ND
5,583,278
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.
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Bob "RealMan" Timm
Minot, ND
900,128
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.
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Bob "RealMan" Timm
Minot, ND
2,390,620
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.
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Debe Maxwell, CRS
Charlotte, NC
3,988,007
In my market find the home, buy it if at all possible then move and sell.
4,936,677
5,868,544
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.
55,673
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.
23,827