Selling a home to buy another can sound very difficult and stressful, however, it doesn't have to be! In a market like we are currently experiencing in Orange County, it is very common to take advantage of the low interest rates and prices of homes and either move up into a larger home or downsize into a smaller one. If you're in this situation then you know that timing and money are both critical subjects. How you handle both in this situation can determine a successful or not successful transaction.

There are some important tips that can help you expedite and successfully navigate through the sell and buy process.

Work together! The real estate process when selling and buying depends highly on collaboration and teamwork. When beginning the process, use a notebook to record and track all important dates that have to do with the relocation. For example, if you are moving jobs, when is your new start date? If your children will be starting a new scholl, when is their first day of school? Also usethe notbook for important notes and questions you may use or have during the process.

Have regular meetings and/or calls with you r real estate team. This includes your Realotr, lender, attorney, inspectors, appriasers etc.

Let's start with first things first; Sell your existing home. A majority of homwowners need the proceeds from their home sale to finance the new purchase. Do what you can before hand to reduce anything that will hold up the sale and possibly take away form your bottom line. Get a pre-home sale inspection to see what potential buyers will find and ask to be repaired when doing their home inspection. Use that inspection to either repair or adjust he price of your home accordingly.

When it comes time to sell, if you're tomove into your next home, work with your agent to negotiate a longer escrow or a rent back to cover the transition. This will help to avoid any hassles of interim move.

In this type of situation, it's not always about the price. Prepare for the best possible offer by screening your potential buyers, make sure they're pre-approved and have sufficient funds to close on time. Sometimes a slightly lower offer may be the one that best fits your time tables and closing schedule.

Know your price point.This is really important regardless of whether you're selling ahome to buy another. When you're in a tme crunch, it's even more critical to know and shop for a home that's in your price range. And just like your asking for the buyers of your home, make sure to get a pre-approval from a qualified buyer. Get an inspection and make sure the home you are buying can be insured.

Ultimately, selling and buying a home is a lot to handle but can be a smooth transition if you prepare. Focus on your time lines, purchase price, and other details taht are specific to your needs. Please call me, Pacific One Lending and Real Estate with any questions!