Highlands NC Real Estate, Simultaneous Buying and Selling
Highlands NC real estate deals often involve simultaneous buying and selling. Sometimes a transaction hinges on the selling of another property, is part of a 1031 exchange or involves moving from a smaller home to a bigger home. Regardless, buying one home while selling another is commonplace. This can also be stressful. Luckily a Highlands NC REALTOR can help you navigate this scenario.
Can you buy one home before you sell another?
A buyer can purchase a Highlands NC home for sale before selling his home. Of course, this is easiest when money is not an issue. However, there are loans that can make this possible as well. A bridge loan is a common loan that will bridge the gap of time between buying one home and selling another. While not many people relish the idea of two mortgages, it is certainly a possibility.
An experienced Highlands NC REALTOR will have been through the process of simultaneous buying and selling with a number of clients. A contract to purchase real estate can be hinged on the sale of a property. However, in a competitive market additional contingencies can hinder acceptance of a contract. In a seller’s market, a buyer may want to consider the bridge loan option. The impotent thing is to know all of your options, something your REALTOR will help you with.
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 a home in Highlands NC. We welcome the opportunity to update you on the market while answering all of your questions. 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.