BUYING YOUR NEW HOME

When you decide to sell your home, most likely you will begin looking around to find a new home to purchase. Here are a few questions that you may ask.

QUESTION

ANSWER

What can I do now?

You can look at new homes and negotiate a prospective purchase. Just don’t sign anything without speaking to us.

When can I sign a contract for the new home?

Once you have a contract signed on the sale of your home, and we are comfortable with your buyer’s ability to obtain a mortgage so that the deal will become “firm”. Not before.

What lender should I use to obtain my mortgage?

What you don’t want to do is use a lender simply because your friend, relative or accountant recommended them. Those recommendations are no guarantee that (a) you will get the mortgage and (b) you will be able to close your purchase smoothly, without delays and unreasonable demands from your lender. We work with a nationally recognized lender who can help you with this. Because we also represent that lender in its closings, we are in a position to facilitate a smooth, timely closing. Just ask us for a referral.

How do I coordinate my sale with my purchase?

Our office will schedule your sale and your purchase within a few days of one another, sometimes the same day.

Where will the money come from to complete my purchase?

As part of our coordination of the contracts, our office will determine what checks are needed to complete your purchase (over and above the mortgage proceeds available) and arrange to have your buyers produce those checks from your sale. There is never a need for you to deposit checks from your sale, clear them, and then write new checks.

What about moving out of my home and into my new home?

Our typical contract permits you to remain in your home for 3 days following the closing of your sale. During that period we will complete your purchase and arrange for you to have possession of your new home so that you can move in seamlessly.

 

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