Douglas "Doug" Tucker

Sales Associate

Buying and Selling a Home in Randolph at the Same Time



 

How do you buy a home at the same time you're selling a home?

That's a question for Randolph real estate agent Douglas Tucker of RE/MAX Properties Unlimited. 

In a perfect world, you should put your house on the market, get a strong buyer, sign a contract with that buyer, and wait until after the home inspection is done BEFORE you go and look for homes.  However, some people are over zealous and want to find the home first.  Then, the person is left with the task of selling his or her home while moving ahead with a new home purchase.  Additionally, the individual may be left holding two mortgages.

I'm sure you've heard that happen countless times.  In retrospect, I'm sure all of the sellers regretted walking down that road.

Why do you sell a house before you buy a home?

There are many reasons why you should get your house under contract before you purchase a home.  Some of these reasons are:

  • You could have more than one mortgage.
  • You may not be able to qualify for the style of home you want.
  • If the buyer of your home backs out, finding a new buyer will take alot of time.
  • If the home inspection uncovers a structural defect or other issues, you will need them addressed while at the same time you are going ahead with the home inspection of your purchase.
  • You run the risk of losing the house you want to purchase if you don't have your home under contract.

Advice from a Randolph Realtor

Advice is free!  If you would like to hear some stories about sellers who purchased their new home before selling their old home, contact Douglas Tucker of RE/MAX Properties Unlimited.  Doug Tucker can be reached in Morristown at 973-539-6300 or Randolph at 973-769-1563.  Also, feel free to use our email form.