Selling And Buying Simultaneously
By Shayne Bowen
It's so complicated! I dont know what to do
first! What is a logical sequence of steps involved in selling my current home, and moving
to a new one?
Answer: You're right - it can be complicated. I've written a
checklist to help, to make sense of the process and to get things done in the right order.
Here it is:
1. Ask me to provide you with the important numbers.
- Ask for my competitive market analysis (to determine the value of your
home). There is no obligation or charge for this service.
- Ask me to calculate a conservative net equity in your current property.
- Ask me to calculate the monthly payment and closing costs on the type of
home that you are considering.
2. Get pre-approved for the real estate loan.2. Get pre-approved for the real estate loan.
- Ask me for a reference to a good lender.
- Have a loan application sent to you, fill it out, & return it to the
- Authorize the lender to run your credit report.
- Ask the lender to let you know what price range is appropriate for you to
- Ask the lender to provide you (and me) with a pre-approval letter.
3. Preview potential homes in your price range.
- Ask me for a list of homes in your price range, and drive by these
- Call me to view the inside of homes that you liked best from your drive
4. Make the decision to move or not move.
- Decide whether the potential homes you're seeing justify the idea,
effort, and cost of moving.
- Decide whether to sell your home first, and then buy a new one, or vice
versa. This is an important decision! See my article regarding this decision at www.ShayneBowen.com/sellfirst.htm.
5. Place your current property on the market.
- This step is taken only if all of the above steps have been completed
successfully. There are several steps involved in placing your current property on the
market. I've written a separate checklist for this phase of the transaction. It covers all
of the items, in checklist format, that need to be taken care of in order to place your
current property on the market. It's at www.ShayneBowen.com/listingchecklist.htm.
6. Keep track of new homes in your price range as you market your
- While your current home is being marketed (as your schedule allows), ask
me for a list of homes available in the price range that you are looking in.
- Continue to drive by homes that look promising, in order to be ready to
make an offer on the right home when your property sells.
7. Make an offer on your new home, once your current
home goes into escrow.
If I may help you regarding any real estate matter, from marketing your
tenth home to purchasing your first property, please phone Shayne Bowen at 707