Highlands NC Real Estate, Ok to Buy Before Selling?
Meadows Mountain Realty, answering all of your Highlands NC real estate questions
Is it ok to buy before selling when it comes to Highlands NC real estate? The answer is of course. However, understanding the circumstances and your finances is key to this move. Today’s market is a hot one, and many buyers want to ensure they get a property under contract. This might mean doing so before a buyer’s current home sells. While this is easiest when money is no object, it is still doable. Your Highlands NC REALTOR can walk you through the process and help you understand what to expect.
Selling contingency?
Buying a home before selling can, understandably, make some buyers nervous. As such, some purchase contracts include a selling contingency. This contingency will offer the buyer an exit from the contract if the home being sold is not under contract by a certain date. This is helpful for buyers but not always that attractive to sellers.
Bridge loan
A cash buyer has it easy when it comes to buying and selling Highlands NC homes. However, it can be stressful for a buyer who has an existing mortgage. If a buyer really wants a property he may want to consider a bridge loan. This can eliminate the need for the selling contingency and make an offer more attractive. The bridge loan serves as an in-between loan, to cover the expense of the home purchase until the home sells.
Learn more about Highlands NC real estate
Contact our team at Berkshire Hathaway HomeServices Meadows Mountain Realty today to learn more about buying and selling real estate in Highlands NC. We welcome the opportunity to update you on current market conditions while preparing you for buying and selling a home. Let our knowledge and experience serve as your guide to Highlands NC real estate.
Click here to read “Does It Makes Sense To Buy A New House Before Selling The Old One?” from Realty Times.