Once those steps are completed, it's usually pretty safe to put an offer in on a new home. You can try your best to coordinate the 2 closings, but I would have a backup plan just in case you have to settle on your current home prior to making settlement on your new home. Please feel free to reach out if you have further questions.
Ryan C. Garrity
U S Spaces, Inc.
2043 Locust St., 1F
Philadelphia, PA 19103
If you sell first you're better off as a seller and as a buyer. You're not forced to take any offer just to get your place sold and you'll be a better buyer when you can say your own home is already sold.
In my market offers contingent on the buyer selling their house are very unlikely to be accepted. One solution I've found is to advise my clients to start looking for a place to buy once we're several weeks into their sale. That way we can see if we can get a home sale contingency accepted that will expire before the financing contingency on their purchase. They may need a place to live for a few weeks between their sale and purchase but the peace of mind exceeds the cost and the hassle.
Most homebuyers think it will be easier the second time around but it's actually more challenging. Good advice and counsel from an experienced agent will help you through the process.
I would say, the second time buying houses and property is more complicated than the first one cause you know more than the first buying.
You will want to get a CMA (comparative market analysis) for your current home to see what your proceeds might look like. Once you determine a market value you can get an idea of what your next property value may be. As in your past deal you will need a mortgage pre-approval (if you are getting financing).
Please feel free to call me with any questions at 215 698 2024.
Prepare your selling home to shine like a jewel so you can get an appealing and strong buyer that will give you a smooth transaction and a flexible settlement date... by doing so.... your paper trail that you have to show on your future purchase home .... will be solid and acceptable to your new seller of the future home with an offered flexible settlement date.
Its not always the money... its the way you structure the smooth transaction in the complex time scheduling world that we live in. Keep it smooth and simple.
All the best John Curci RE/MAX Properties Ltd 215-757-2889