Hi Delia..

I hate to steal your thread..But I have a home for sale in baker, with a HUGE master suite and bath, A HUGE walk in closet, and office/workout room off the master bedroom. It has 2 other bedrooms, and a HUGE apartment style room off the back. About 7 years ago, the house was completly remodeled and put up to date. The house has a open floor plan along with a seperate washing room, and the wireing and plumbing for another bathroom in the "Apartment." It is the perfect house for someone looking to get a bigger home. I am only selling to get something smaller. If intrested, please e-mail RockinTheRanch@yahoo.com

Thanks!
Hunter

Well how much do u owe on your home.

Delia,

What you're describing is most homeowners' goal! First off, it IS possible. But it depends on a lot of factors. Such as home much equity you have in your home right now. What type of mortgage if any you have. What type of new mortgage you could qualify for. The price you could sell your current home for and what area you would like to buy your new home. As someone who deals in short sales and forclosures often, i can tell you purchasing foreclosures may sound like a great deal, but there are ALOT of factors involved. Often to get the "really good deal" you have to have cash up front or financing immediately available. Lowing your note on your next home could very well happen, but like i said previously, it depends on alot of factors.

Your first step towards your goal would be to consult with a REALTOR. Unless you know alot about mortgages, current housing trends in Baton Rouge area, and the legalize details that doing what you want entails, i suggest you go to someone who does.

"A smart man makes a mistake, learns from it, and never makes that mistake again. But a wise man finds a smart man and learns from him how to avoid the mistake altogether." Roy H. Williams

Basically, it takes a smart man to recognize a wise man and a smarter one to learn from him. A good real estate agent will know the ins and outs and help you get the best possible advice leading to the best possible deal. Trust me, it CAN happen!! I work for a real estate Title Company, and I get to see people do it all the time. It just takes a little know how and time.

Please feel free to contact me, if you have any questions or just need some help!

Delia,
Thank you for your question. The answer depends on the amount that you sell your home for, versus the amount you have to pay it off. As a REALTOR, I always provide a seller net sheet to my clients showing them the amount of money they would net (approximately) in their pocket after the sale of their home. To get that number, you take the amount you are selling for minus the payoff amount. From that number you have to subtract any REALTOR fees for selling it, a termite certificate if that is indicated as part of the sale, any closing costs that you may or may not have to pay, and any other applicable fees to the sale. Once all is determined, that amount is an estimate of what you should have in your pocket after closing. That money can then be applied to a new home, or payoff existing debt. Its your money, so depending on your finances, you can use it for whatever you like. Hope this helps you. Please visit my websites at http://www.darrenjames4.point2agent.com or http://www.agent225.com for more details about real estate and helpful tips.