There are six mistakes you want to avoid during a simultaneous sale. Here are the last three.
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In the final episode of our two-part series about the biggest mistakes to avoid when buying and selling at the same time, we’ll go over the final three pitfalls that can harm your simultaneous transactions. To recap the first part of this series, click here.
Without further ado, here are the final three mistakes to avoid:
4. Working with too little of a cushion when it comes to financing and terms. If you’re selling your house for a certain number because you absolutely need that amount to purchase your next home, you’re not leaving yourself that much cushion. You never know what will happen during negotiations. You don’t know what a buyer will ask for, and cutting it tight can make the situation way more stressful. Try to have a little bit of a cushion in terms of what you need from your sale and what you require for your next purchase.
Try to have a little bit of a cushion in terms of what you need from your sale and what you require for your next purchase.
5. Failing to compromise. When going through the buying or selling process, it’s easy to stand on principle and refuse to compromise on what you want or what you’re willing to do. There’s a time and a place to put your foot down, but during a real estate transaction, you should think long and hard on whether little things like not wanting to fix a broken window are worth potentially putting a stop to the entire process.
6. Using two different real estate agents. If you’re moving out of town after you sell your current home, then using two different agents is a way better idea than using just one, but if you’re buying and selling in the same area, the process will be a lot smoother if you use just one agent or team. On our team, for example, we have specialized agents who focus on just one side of the transaction, so if you worked with us, you’d get the best of both worlds in terms of expertise.
Once again, if you have any questions about this or any other real estate topic, don’t hesitate to reach out to me. I’d be glad to help you.
