Ultimate Guide to Buying and Selling at the Same Time

A new job. College students leaving home. Elderly parents moving in to be closer to family. A new baby. The reasons for buying and selling a home simultaneously are endless, and the process is inherently stressful due to an often strained timeline. Regardless of why you plan to buy a new home and sell your current one, there are easy steps to follow to ensure the process goes as smoothly as possible.

The first step in successfully balancing a move in and out of single-family homes for sale in Fresno, CA simultaneously is to be very clear on your requirements.

Answering questions like this can clarify your transaction goals before you list and start hunting.

Since you'll be juggling preparing your current home for sale, keeping it pristine for showings, browsing for listings, and attending showings on top of your normal routine, spare yourself extra stress by eliminating packing from your to-do list as early as possible. Even if you only pack away items you aren't actively planning to use in the next three months, you'll save yourself some time and avoid some of the frustration of balancing too many tasks at once.

At a minimum, make a detailed plan for handling all the tasks of selling your home and buying a new one so you can stay on track and meet the necessary deadlines. You may also want to investigate home selling tips like only partially emptying closets and hiding evidence of pets to help you get your existing home in the best possible shape for sale.

Buying and selling homes for sale in northwest Fresno simultaneously requires careful financial planning. You already know you'll need a down payment and a budget for monthly expenses for your new home, but have you considered how you'll handle expenses if your current home sells after you buy your new one? You'll need to be prepared to cover expenses for both properties for at least three months since the median days on the market reached 75 in February 2022. Once your finances are in order, you can start shopping for Fresno homes for sale.

Trying to buy and sell simultaneously can feel like juggling far too many oddly shaped objects at once, which leaves you stressed that one is always about to fall. Working with a Fresno real estate agent like Todd Earnhart is the smart choice if you want to have a smooth simultaneous sale. An agent with experience in helping clients buy and sell at the same time will be able to keep you on track with deadlines, ensure you understand the process for both the sale and purchase and alert you to any potential risks or roadblocks. They'll also be able to negotiate in your favor to protect your interests as both a buyer and a seller.

Once you've hired the best real estate agent in Fresno for your needs, they will show you comparable sales and likely offer a suggested price range, but the listing price is ultimately up to you. Your agent will tour your property and offer suggestions on maximizing your profit, but you can decide what changes to make. They may suggest renovations like new paint, minor or major bathroom or kitchen upgrades, and revised landscaping. Once all changes are made, expect your agent to suggest staging several, if not all, of your rooms.

As a homeowner, you've gone through the buying process and know how it works. With your wishlist in hand, use the MLS link your agent provides to start looking at houses online or take a drive through the neighborhoods that interest you to look for "Coming Soon" and "For Sale" signs. When you see homes you want to tour, coordinate with your agent to schedule a time.

After staging, your agent will likely take photos of each room or suggest hiring a professional photographer and videographer to ensure the online listing shows your home in its best light. With the photos in hand, your agent will craft your listing description, post your home online, and schedule available showing times. Once the listing is live, your agent will implement the marketing plan previously discussed when they were hired.

Common marketing tactics include open houses, print ads, online ads, social media posts, 3D virtual tours, streamed tours, and more. All you'll need to do is keep your home in tip-top shape so that it remains ready for showings at any time, just in case a strong contender of a buyer requests a time outside your preferred hours.

Once you've found a home you love, let your agent know you are ready to submit an offer. You and your agent will double-check that the desired home is fairly priced, and they will put together an offer. If you need a specific timeline or contingencies added, discuss them with your agent and any additional incentives that might sway the seller your way. Consider asking for a delayed closing date if your home has not yet been sold. Requesting a home inspection and home appraisal contingency is also recommended. Once the offer meets your specifications, your agent will submit it and start negotiations on your behalf until you and the seller agree.

As offers come in on your current home, you will review them with your real estate agent. Your agent can help you sort the offers based on which ones meet your expectations. Let your agent know when you've found an offer you want to accept or send a counteroffer. With your counteroffer, you may want to include a rent-back contingency so that if your home sells before you buy a new one, you have a place to stay while you keep hunting. Your agent will negotiate the sale for you.

With a contract in hand, you can move forward with the closing. As a buyer, you'll pull the funds for your down payment, secure your loan, and schedule a home inspection and appraisal before closing. As a seller, you'll remove the last of your belongings, make any necessary repairs following a home inspection, and follow your agent's guidance to ensure everything is ready to go on the closing date.

While balancing a home purchase and sale simultaneously can feel overwhelming, the process is much less stressful when you work with a real estate agent specializing in this type of transaction. They will guide you through everything from listing and pricing your home to scouting potential properties. To discuss your goals for buying and selling real estate in Fresno today, contact experienced agent Todd Earnhart to get started on creating a custom plan tailored to your situation.

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