When you are dependent on selling to buy, it's a very tricky situation. Not impossible, but tricky. I would never suggest that you buy anything before you sell your coop. In this market particularly, coops are taking a lot longer to sell then say 2 or 3 years ago. The coop process is a 2 step process. Mortgage Commitment and Board Approval. You should definitely start looking at homes, but I think you'll need the advice and guidance of a real estate agent to get you through this process. In addition, if you are carrying a loan on your coop, a bank may not finance a new home until you've sold the coop. Many variables. If you would like further advice/guidance, please feel free to call me.
Licensed Real Estate Salesperson NYS
Margot Bennett, Inc.