Is it worth selling an old apartment before buying a new one?

A change in your private or professional life may create a need to change housing. The easiest way is to sell an old apartment first and then buy a new property, but there are other alternatives.

Finding a dream job in another town or city, an enlargement of the family are examples of life changes often involving the purchase of a new home.

One of the alternatives for financing the purchase of real estate is to sell an old apartment first before making a new purchase. But do not rush into selling your property until you’re sure you’ve found a new one.

In case your property has been sold, you have the option of finding an agreement with the buyer staying for a short time after the sale of a time you find a new home.

Sometimes a new apartment can be found before the sale of the old one. Buying a new home before selling your current home can be a financial handicap. Depending on your ability to pay, it is possible to opt for various financing solutions. The transaction can also be done in two parts, for example, 20% of the transaction amount is paid in advance and the remaining 80% of the price will be paid later by mutual agreement between the buyer and seller.

If your financial situation allows, the third option is to keep the old apartment and rent it using http://www.laforet.com. In this case, you must be able to cover the self-financing of the new house and the monthly payment of a bank loan for the purchase of the new property. It is the rents collected that will be used for the payment of the monthly payments.

The conditional offer: the other alternative

A conditional offer is a solution that can be used for home exchange. This means that an offer comes into effect when a particular condition is fulfilled. There are different types of conditional offers: the transaction may depend on the financing, the results of the various diagnoses made or the sale of your house. Especially in the case of detached houses, many of the offers depend on the condition of the property and its insurance.

However, the conditional bidder occupies a position different from that of the other buyers. The most interesting properties are often sold quickly and the most interesting buyers are those who manage to finance the purchase of the property already at the stage of the offer and of which no condition is attached to their offer.

To facilitate the real estate transaction, a professional real estate agent can significantly help the buyer and the seller to arrange a home exchange. It should also be remembered that the use of a competent professional will ensure a smooth transaction in which buyer and seller will fully benefit from their rights.

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