Forge Posted August 18, 2017 Share Posted August 18, 2017 Was wondering how many people here had experience with selling their home while purchasing another home at the same time. My girlfriend and I are looking to sell our primary and purchase a new home. I've gone through the home buying procedures a couple of times, but I still own both of them, so I've never sold a home, and I certainly haven't sold one while purchasing another. Now, I'm in the banking field, specifically in mortgages, so I understand the financial aspects of this perfectly fine and don't need any help there, but what I'm really looking for is advise on the process. Did you get your pre-approval for the new home first, then list your home and put an offer on a new house once yours went under contract? Did you list your property first, get an offer, then go through the buying procedure with pre-approval, home search, etc? Link to comment Share on other sites More sharing options...
UKTexans Posted August 18, 2017 Share Posted August 18, 2017 Only have experience with buying and my one tip would be; never underestimate how useless solicitors can be. Link to comment Share on other sites More sharing options...
MKnight82 Posted August 18, 2017 Share Posted August 18, 2017 1 hour ago, Forge said: Was wondering how many people here had experience with selling their home while purchasing another home at the same time. My girlfriend and I are looking to sell our primary and purchase a new home. I've gone through the home buying procedures a couple of times, but I still own both of them, so I've never sold a home, and I certainly haven't sold one while purchasing another. Now, I'm in the banking field, specifically in mortgages, so I understand the financial aspects of this perfectly fine and don't need any help there, but what I'm really looking for is advise on the process. Did you get your pre-approval for the new home first, then list your home and put an offer on a new house once yours went under contract? Did you list your property first, get an offer, then go through the buying procedure with pre-approval, home search, etc? 1. Get pre approved for financing. 2. Put existing home on market. 3. Start looking for new home. 4. If you find new home before existing sells, put in the contract that the purchase is contingent on selling your existing home. Link to comment Share on other sites More sharing options...
Forge Posted August 18, 2017 Author Share Posted August 18, 2017 2 minutes ago, MKnight82 said: 1. Get pre approved for financing. 2. Put existing home on market. 3. Start looking for new home. 4. If you find new home before existing sells, put in the contract that the purchase is contingent on selling your existing home. Okay, cool. I really just wasn't sure where to start with the entire thing, and what would be the best process. Thanks for the help! Link to comment Share on other sites More sharing options...
MKnight82 Posted August 18, 2017 Share Posted August 18, 2017 Just now, Forge said: Okay, cool. I really just wasn't sure where to start with the entire thing, and what would be the best process. Thanks for the help! You really want to start with the financing. If you can't get the financing you want, you might end up not wanting to do any of the rest. Link to comment Share on other sites More sharing options...
Forge Posted August 18, 2017 Author Share Posted August 18, 2017 Just now, MKnight82 said: You really want to start with the financing. If you can't get the financing you want, you might end up not wanting to do any of the rest. Yeah, makes sense. I haven't been totally concerned with the financing angle - I know the approval is not an issue, and I can underwrite my own file before I even give it to them since that's what I do, and I can get an accurate look at my approval amount. That being said, the rate is something I can't account for, so that could definitely muck up the financing part of it. Link to comment Share on other sites More sharing options...
MKnight82 Posted August 18, 2017 Share Posted August 18, 2017 Just now, Forge said: Yeah, makes sense. I haven't been totally concerned with the financing angle - I know the approval is not an issue, and I can underwrite my own file before I even give it to them since that's what I do, and I can get an accurate look at my approval amount. That being said, the rate is something I can't account for, so that could definitely muck up the financing part of it. Lol well rates are still stupid low. I doubt that ends up an issue. Sounds like you're set. Good luck. Link to comment Share on other sites More sharing options...
Forge Posted August 18, 2017 Author Share Posted August 18, 2017 1 minute ago, MKnight82 said: Lol well rates are still stupid low. I doubt that ends up an issue. Sounds like you're set. Good luck. Thanks, I appreciate it. Not sure I'm looking forward to it, I hate moving lol. Link to comment Share on other sites More sharing options...
MKnight82 Posted August 18, 2017 Share Posted August 18, 2017 1 minute ago, Forge said: Thanks, I appreciate it. Not sure I'm looking forward to it, I hate moving lol. Hire a moving company. Once I hit 30 I decided I would never move my furniture ever again. Worth every penny. Link to comment Share on other sites More sharing options...
Forge Posted August 18, 2017 Author Share Posted August 18, 2017 Just now, MKnight82 said: Hire a moving company. Once I hit 30 I decided I would never move my furniture ever again. Worth every penny. That's actually good to know - I've always done my own moving too, and I really hate it (I was a chronic mover when I was young as I was a military brat, then once I was of age, I started bouncing around everywhere just to try different places). I've never hired a moving company...even last year when we moved and my girl friend was 6 months pregnant and on medical bedrest lol. So it was basically just me for most of it (her sister helped some). Link to comment Share on other sites More sharing options...
MKnight82 Posted August 18, 2017 Share Posted August 18, 2017 3 minutes ago, Forge said: That's actually good to know - I've always done my own moving too, and I really hate it (I was a chronic mover when I was young as I was a military brat, then once I was of age, I started bouncing around everywhere just to try different places). I've never hired a moving company...even last year when we moved and my girl friend was 6 months pregnant and on medical bedrest lol. So it was basically just me for most of it (her sister helped some). Its more than just the actual moving. When you move yourself it takes all day, then you're so tired you just go to sleep without unpacking anything. Once you go a day or so with crap in boxes, I found myself just getting used to it and unpacking took days. If you schedule a mover they'll knock it out in a few hours without you lifting a finger, and you can spend the rest of the day unpacking. You can complete the entire process in one day. Link to comment Share on other sites More sharing options...
Forge Posted August 18, 2017 Author Share Posted August 18, 2017 5 minutes ago, MKnight82 said: Its more than just the actual moving. When you move yourself it takes all day, then you're so tired you just go to sleep without unpacking anything. Once you go a day or so with crap in boxes, I found myself just getting used to it and unpacking took days. If you schedule a mover they'll knock it out in a few hours without you lifting a finger, and you can spend the rest of the day unpacking. You can complete the entire process in one day. Not going to lie...that sounds pretty wonderful lol Link to comment Share on other sites More sharing options...
MKnight82 Posted August 18, 2017 Share Posted August 18, 2017 1 minute ago, Forge said: Not going to lie...that sounds pretty wonderful lol Yep. Here's a tip, hire a mover that gives you a flat rate instead of one that charges hourly. You might think the hourly guy will save you money but they won't. Also the guy on a flat rate has incentive to get it done as quickly as possible. Link to comment Share on other sites More sharing options...
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