Your Local Sussex County Real Estate Agent

Helping You Find The Best Beach and Luxury Homes In Southern Delaware

Residential properties are my specialty!

Home Buyers I will . . .
	Work at no cost to you!
	Provide detailed listing information not available to the general public.
	Negotiate the deal to save you money.
	Guide you through the avalanche of paperwork.
	Commit my time and energy to finding you the right home

Selling One, Buying Another

Selling One, Buying Another

In a perfect world, you sell your old home and buy the new one on the same day. Given that things rarely turn out perfectly, here are some things to keep in mind as you negotiate the sale of one house with the purchase of another.

Time it right

Fall and spring are the best times for homes to move and you want to consider the season of the year when buying and selling. And if the closing dates aren’t going to coincide, a gap – rather than two mortgages – is the better. It’s easier and usually cheaper to find temporary housing than juggle two mortgages.

Selling First

Selling your home before buying a new one minimizes financial hazards. Even if you have to find temporary housing, it’s generally cheaper than two mortgages.
Get an appraisal first thing off the bat. That way you’ll have a good idea how the sale of your home will effect your purchasing power on the new one. This will help keep you from over extending your mortgage abilities.
Get pre-approved on a loan for the new home.
Until most of your contingencies have been met, wait to put an offer on a new house. You don’t want to be left holding the bag, or in this case, the house.
If you’re ready to accept an offer on your home, but haven’t found the right new home, negotiate a long escrow or a sale/lease back. This will give you more time to look for the new home. Otherwise, look for temporary housing.

Buying First
It happens. You’re only thinking of buying, and suddenly the right home shows up. Now you have to sell your old home quickly. Here are some tips on making things work in your favor:

Negotiating a long escrow on this side of the sale works, too. You can also make the purchase contingent on your house selling. This will work better in a slow market, but it’s worth a try in any market. You never know what may also work best for the seller of your new home.
Try and schedule the closing date of your current home prior to the closing on your new home. Temporary housing is generally a better situation than two mortgages.
Take a close look at what price you’re going to ask for your home. Make sure it’s realistic in the current market.
When you get an acceptable offer, check the buyer’s credit history. You don’t want any surprises that are going to delay things. If you’ve closed on the new home, but haven’t sold the old one, consider renting it out, or taking it off the market until the next season (or until the market improves).

Same Market or Across Country

Generally, if you’re buying and selling in the same market, you can negotiate closing dates to work for you. But when you’re dealing with a cross country move, it’s a lot harder. A real estate professional really comes in handy at this point. Legal documents can be faxed or sent via overnight courier and your focus won’t be stretched to the limit. You may end up renting one home or the other, or have to consider a bridge loan. But with someone local in the market on your side, it will hopefully be less stressful.

Show Me the Money

Make sure you have a tight hold on, and a clear understanding of, your financial situation. Cash reserves are always helpful, but never more so than during the purchase of a home. Two to three months is the recommended reserve, but if you don’t have it, this is where the bridge loan comes in handy. Some lenders are more inclined to make a loan if it’s for the purchase of a home. If you’re a smart shopper/seller, you’ll accept an offer from someone who’s flexible about move-in dates. It can save you money in the long run. Too many moves with storage costs can quickly eat up any profit you may have made in the transaction.

Need Help?

Whether you are planning to buy or sell your existing home, contact me today!


To:	Anne Polichetti
Subject:	Please do not use <, >, or HTML.


Why is my contact information showing?
First Name:	First name is required. Please do not use <, >, or HTML.
Last Name:	Last name is required. Please do not use <, >, or HTML.
* Email:	Email is required. Invalid Format
Phone:	Phone is required. Invalid Format

Comments:	Please do not use <, >, or HTML.

Receive additional information via email. Unsubscribe at any time.

I understand that you may be in the information-gathering stage and may not be ready to open up about who you are or your real estate needs at this time. If you are not comfortable providing all your contact information that is perfectly OK. Just enter your e-mail address so I can send you the material you requested

I am affiliated with Wilgus Associates Real Estate,located in Lewes, Delaware which is an independent real estate brokerage,committed to providing outstanding service and value to buyers and sellers. We are known for developing quality working relationships with our clientele; relationships based on respect, integrity, and trust. I am proud to have developed beneficial relationships with lenders, inspectors, contractors, and a wide range of housing professionals.

Whether you are purchasing, selling, or both...I ensure that you have the support you need to make to make sound decisions and receive the best deal possible. I will go the extra mile for you!

I will take the time to listen to your needs and dreams. I will work tirelessly to facilitate your goals without compromise.
I am committed to treating every client as if they are my #1 priority.

Whether you are buying, selling, or simply considering a move, I will be happy to speak with you.

Call me on Skype,(anne31460@yahoo.com)

Anne Polichetti,REALTOR® ,GREEN