Buy First or Sell First: The Home Buyer Dilemma

Buying and selling homes in the Greenville South Carolina area.

Buy First or Sell First: The Home Buyer Dilemma Close

Buy First or Sell First: The Home Buyer Dilemma

Posted by Eddy Kicker on Sunday, December 16th, 2007 at 11:15am.

Bob and Sue are considering purchasing a new home.  They have lived in their current Greenville SC home for several years and need something larger and they like the features newer homes have to offer. They don't have their current home on the market but want to start looking for a home that might fit what they are looking for. They will need to sell their current home before they can purchase their new home.

Buyers in Bob and Sue's situation are common, because most people can't afford to make two house payments. Buyers should spend some time and get an overall feel for the prices and locations of the type homes they are looking for as well as speak with a mortgage professional to verify what priced homes they will qualify for. It is however, not wise for Bob and Sue to zero in on a specific home until they at least have their current home on the market. Sellers will not entertain offers from buyers that do not at least have their home listed for sale.

Sellers want offers from buyers that have few, if any contingencies. Buyers that do make offers with the contingency of selling their current home face several obstacles. First, they will have greatly reduced negotiating power with the seller. Secondly, the seller will continue to market the home and if another acceptable offer is submitted, the buyer with the contingency stands to lose the home and become frustrated.

Are you like Bob and Sue? You can use my Greenville South Carolina Real Estate home search to gauge current home pricing levels and determine which areas you will want to focus on. My Total Exposure Marketing Plan details the steps I will take to ensure we will get your current home sold. Please contact me and let's work together to make your dreams a reality.

Here's to a GREAT 2008!

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