Blog by Andrew Peck

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Should You Sell or Buy First?

Should You Sell or Buy First?

It’s a balancing act.

You want to find a new home and you want to sell your current home.

Should you find your future home first, make an offer subject to the sale of your current home, and then get ready to sell as fast as you can?

Many home buyers feel more secure going that route. Yet, if you sell first, you could be in a much stronger bargaining position.

This is because another buyer could make an offer without a subject to sale and get your dream home. And if you make an offer that isn’t subject to the sale of your existing home, and your home doesn’t sell, you could end up carrying two mortgages.

The optimum situation is to start by meeting me, your REALTOR® and I will determine your home’s value and then start marketing it. If you plan to move up to a more expensive home, we can arrange to have you meet with your mortgage representative and decide what you can afford.

I can then see what’s on the market in your price range, and will focus on getting your home sold for the best possible price.

Once you accept an offer on your current home, we can continue home hunting until we find your dream home.

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What are the key challenges we face as a profession?

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Will a luxury or speculation tax create more affordable housing?

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