Selling And Buying Simultaneously

By Shayne Bowen

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 lender.
• Authorize the lender to run your credit report.
• Ask the lender to let you know what price range is appropriate for you to look in.
• Ask the lender to provide you (and me) with a pre-approval letter.

• Ask me for a list of homes in your price range, and drive by these potential homes.

• Call me to view the inside of homes that you liked best from your drive by inspections.

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 current home.

• 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 707 577-8200!