Diane's Suggestion:

Should you find your Dream Home before your current home is sold, consider using a bridge loan. This loan advances the equity that you've built up in your current home to bridge the gap in time between your purchase and subsequent sale. With today's low interest rates and some fine products, you can take advantage of low interest rates to know that you'll have the roof you want over your head!

Contact Information:

Diane Norris

GRI, e-PRO Internet Certified

Cell: 216-408-0886

Toll Free: 877-601-4678

Email: Diane@GreaterClevelandProperties.com

Keller Williams® Realty ~ Greater Cleveland

27950 Chagrin Blvd., Cleveland, OH 44122

Office: 216 839 5500

Buy or Sell First?

Sell First or Buy?

Buy first, then sell....or....sell first, then buy? Of all the questions I'm asked, this may be the most difficult because there is no right or wrong answer - only the answer that works best for you and your circumstances.

Here are advantages and disadvantages of each option. Only you can decide which scenario better suits your temperament and needs.

Buy First and Then Sell

If you decide to buy a home before selling your present home, many agents will advise you to make your purchase offer subject to the sale of your current residence.

Advantage: you'll know the home you want is waiting for you.

Disadvantage: This option affects your negotiating position as both buyer and seller. As a buyer, you lose negotiation strength if you ask the seller to take his home off the market and wait for yours to sell within a reasonable period of time. This was done in the past but is not the best solution. The seller will be less likely to take a lower offer and you may end up paying more for the home. As a seller, while no buyer will necessarily know that you have a time deadline, you will live with the added stress of wondering when your home will sell and you are more likely to give in more easily to demands of a potential buyer.

Sell First and Then Buy

Advantage: Your negotiating position is stronger in both the sale and subsequent purchase. When you sell first, you have less stress and can negotiate more readily with buyer's demands. If your home is listed reasonably, you'll be in a good position to wait for the right buyer. From your position of strength as seller, you can also better negotiate a proposed possession date to allow adequate time to find a new home.

Once your present home is under contract, you can shop for your new home with confidence, knowing exactly how much money you have to spend and you'll be able to negotiate from a stronger position as a buyer in obtaining more favorable price and terms

Disadvantage: Wondering where you will go. Will you find a suitable home when yours is sold or will you be forced to rent and put your things in storage while looking and waiting to move in? Depending on the availability of homes you're looking for in your style preference and price range, it may not be quick and easy to find your new dream and you may be forced to settle for something less than perfect.

Go confidently in the direction of your dreams! (Henry David Thoreau)

When it Comes to Real Estate . . . Diane Delivers Dreams!