Should I sell my home first or wait until I have bought another home?
Answer: This can be a tough decision, the answer will depend on your personal situation and the condition of the Shreveport Bossier City local real estate market.
If you put your home on the market first, and it sells quickly, you may have to scramble to find another one before it's time to close the sale. This could force you to buy a home that does not meet all your requirements because of your limited time to shop. If you do not find another home quickly, you will find yourself moving twice, temporarily staying with relatives or in a hotel.
On the other hand, if you make an offer to buy first, you may be tempted to sell you existing home quickly, even at a lower price. The answer to this dilemma depends on your tolerance for risk and inconvenience.
The advantage of buying first is you can shop carefully for the right home and feel comfortable with your decision before putting the existing home on the market.
On the flip side, the advantage if selling your existing home first is that it maximizes your negotiation position because you are under not pressure to sell quickly. It also eliminates the need to carry two mortgages at once. Talk with your agent for advice. Discuss the pros and cons of each and whether certain contingencies written into the contract can ease some of the pressure.
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