Question Details

Cristina, Both Buyer and Seller in Massachusetts

We are looking into buying a new house which entails selling the old one. Do we need to work with two?

Asked by Cristina, Massachusetts Wed Apr 2, 2008

different agents? How can we manage not to sell the old house where we live until we find a new one that we really like? Thanks for your help.
Cristina

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Answers

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You do not need to work with two agents. In fact you often receive a discount on your commissions by working with the same agent for both houses.
It is tricky timing to sell just at the right time. One option is to purchase your new home with a contingency in the contract for the sale of the current house. But in this market, many sellers will not wait indefinitely. It is good to have a plan for what you will do if there is a gap. You can also get a bridge loan from the equity in your house to assist. Sometimes short term housing arrangements will work as well.
1 vote Thank Flag Link Wed Apr 2, 2008
If you are selling and purchasing in the same area, why not use the same agent? Interview your agents and make sure the trust factor is there and the experience that you need in the areas in which you are selling and purchasing.

You can negotiate a move out date when you get a contract on the home you are selling. Sometimes, if you need more time, you can even lease back the home from the purchaser for a short amount of time.
Web Reference: http://www.queencitygal.com
1 vote Thank Flag Link Wed Apr 2, 2008
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