Selling your Home and Buying a New One
It is no secret that in and around 2008 many homeowners saw their home values plummet. The real estate market slowed and their was low to little inventory for those wishing to purchase a home. There now appears to be good news. According to a Chicago Tribune article home prices in several Chicago areas are increasing. Growing home prices may encourage homeowners, who were once apprehensive about selling their homes, to place their properties on the market.
Increasing home values and low unemployment are all positives to a owner looking to sale their home; however it is not without its challenges. Selling a home in and of itself can be a stressful task. When coupled with the task of purchasing a new home the process can be daunting.
The seller will have many considerations: how to negotiate repair requests from the buyer; paying off any outstanding debts on the home; meeting municipality requirements; choosing a title company; signing transfer documents and deed.
These considerations double when they are trying to purchase a new home: how to negotiate repairs or credits on the new home; approval from new lender; checking for municipality violations; making sure that tile is clear on the new property; signing loan documents and/or setting up wire transfers.
With all of these considerations one thing is paramount when orchestrating a sale and subsequent purchase of a new home...timing !
You may feel like you are running against the clock.
If you are in the process of buying and selling your home contact me today. Me and my team would love to help you meet your goals !