Real Estate

Selling Home to Buy Another in Anaheim

We buy houses in Anaheim, CA, and we just approached you for that property you wanted to sell for cash. But then you are planning on buying and selling in Anaheim. In truth, moving is always stressful, regardless of the reason. Are you moving because of a job transfer? In search of a better school district? Or your current house is not just large enough to accommodate your growing family.

In all of these scenarios, you can consider selling your house and buying a new one. Although purchasing a home is regarded as one of the most stressful life events, imagine selling and moving simultaneously: double the stress involved.

When you’re trying to sell a house and buy your next place simultaneously, things can get complicated, especially if the plan isn’t really falling into place. If closings don’t align, you might need to consider a quick home sale in Anaheim. This often happens, especially when you need money from your current home’s sale to put toward the deal for your next place. Cash for homes in Anaheim can come to your rescue, but it takes more than needing to sell your home in Anaheim to get the two deals done.

We buy houses for cash in Anaheim, CA, and can help get both halves of the deal done, but with a bit of planning and a savvy real estate agent, you can make both deals run smoothly. Selling a home to buy another in Anaheim is like playing a game of mortgage chicken. However, if you follow these steps, you can make the deals work without stress and make it a seamless transition.

 

How To Sell Your Home To Buy Another In Anaheim And Keep Your Sanity Intact

1.      Assemble your team

This is not the time to attempt to try to take on the steps and paperwork involved in real estate deals by yourself. You need experienced professionals advising and guiding you from the time you decide to sell till you move into your new abode.

One advantage of having a skilled real estate agent on your side is getting to know realistic estimates of home prices in Anaheim and how to set the asking price of your current home. This way, you can begin to make precise calculations on down payment and closing costs, from how much equity you have and possible net proceeds. Having someone with a proven track record can really make the process seamless, especially if you are using the same agent and attorney.

2.      Consider your financial position

Ideally, you can have concurrent closings; isn’t that the goal? I mean, sell your house fast in Anaheim, sometimes in the morning and close to your next place by that afternoon or in few days. Unfortunately, this will not always be the case. You can find yourself needing funds to close on your new home or even end up paying two mortgages because you couldn’t sell your house fast in Anaheim.

Worst-case scenario, you can complete the sale of your current place and miss out on the mortgage approval, thereby losing your next home and without a roof over your head having sold the current one. At any point where you find yourself wondering, “how do I sell my house in Anaheim?” remember we buy houses in any condition in Anaheim, CA, and would love to make your dreams come true.

 

3.      Factor in the market

Getting the timing right is undeniably the most critical factor in completing two deals concurrently. However, this depends on the conditions of the Anaheim housing market.

a.       If you’re in a buyer’s market

Here, there is a possibility that your house will stay longer on the market, except you consider cash for home deals in Anaheim.  In this type of market, you might have to wait on making an offer for your next home till you find yourself nearing the end of the current sale. However, the buyer’s market comes with the advantage of allowing you to include a contingency that voids the deal if the sale of your existing home doesn’t go through. Now that’s peace of mind in written form.

b.      If you’re in a seller’s market

On the other hand, a seller’s market puts you under pressure to have your home stages and market-ready. Finances must also be in order since you can quickly complete the purchase because of the market condition.

4.      Negotiate the timeline, not just the money

As mentioned earlier, timing is of greater importance here. Therefore, while you’re trying not to overpay on your new home and lose equity on the current one, consider closing when negotiating both deals. The ultimate goal is to have both buyer of your house and the seller of your next home agree to concurrent closings.

5.      Have a backup plan

Now, this is not something you frequently hear because some agents are oblivious to the fact that even with adequate planning, everything can still go wrong.  Things might not go as planned, and one or both of these deals might just fall through. The inclusion of contingencies in your contract gives you the freedom to reschedule closings or even walk away wholly (if you need more time to strategize) with minimal financial loss.

Here are some backup plans that can come in really handy:

  1.       Find a short-term rental if you cannot secure your next home deal but closed on the current home.
  2.       You can ask the buyers to do a rent-back agreement: this allows you to remain occupants of your current home after closing for an agreed period.  
  3.       Funny but really smart: you can offset the expense of owning two homes by using the income from renting your current out.

So, can I sell my home in Anaheim while I seek to buy another? Yes, you can; you can have a seamless transition from one home to the other with the steps explained above. We buy houses in Anaheim, CA, and can help get one-half of the deals done faster.

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