How to Buy and Sell Your Home at the Same Time

How to Buy and Sell Your Home at the Same Time

  • Roger Banning
  • 07/19/23

Selling your home can be one of the most stressful times in your life. Not only do you need to worry about packing away your home while trying to keep your home in pristine condition for showings, but you are also searching for a new home simultaneously. It can be overwhelming trying to balance everything, especially if you need to sell your current home to afford your new home. You want to ensure everything aligns when you are selling your Scottsdale home while buying a new home.

If you sell your home before you have found a new one, you might have to worry about where you will stay in the interim. And if you buy a home before you have sold your home, you may not be able to finance your new home and potentially lose out on the sale. Buying and selling your home is a delicate balancing act, and you want to ensure you do things right.

So how do you buy and sell your home simultaneously without losing your mind? Is it even possible to do both? Absolutely! With some careful planning and with the help of real estate professionals, you can buy and sell your home at the same time.

Hire the right real estate agent

The good news: you don't have to do it alone. When trying to balance two real estate transactions simultaneously, you will need to hire a real estate to help you coordinate everything. Start by hiring a listing agent for your Scottsdale home. By hiring a real estate agent, you can take the worry and guesswork out of trying to sell your home while searching for a new one. So what traits should you look for in a real estate agent? You will want an agent with:
  • Extensive industry experience
  • Familiarity with your local market
  • Clear communication skills
  • Exceptional organizational skills
  • Strong follow-up skills
Above all, you want to work with an agent who is reliable and trustworthy since this is one of the most important transactions of your life. If at all possible, you will also want to work with the same agent as your buyer's agent. This is because your listing agent will understand what was missing from your current house and help you find it in your new home. Your listing agent will also be able to better coordinate a timeline that works best for you. All in all, your real estate agent will be your greatest asset.

Market your home to sell

When buying and selling a home simultaneously, you want to do everything you can to get your current home sold. Even if you don't need to profit from your current home to afford your new home, you want to avoid dealing with the expense and upkeep of maintaining two houses, at least not for long. That's why it's essential to have a marketing plan for your listing. Fortunately, your listing agent will work with you to sell your home. If you are working with an experienced agent, they will create a targeted, individualized marketing plan to sell your home quickly and for top dollar. It all begins with pricing. You want to ensure your home is listed for fair market value, no matter your local market conditions.

So how do you determine the right price for your home? Your agent will present you with a comparative market analysis, sometimes known as a CMA. The CMA will contain comparable homes that have recently sold in your area. By showing you these listings, you and your agent can come up with a fair listing price for your home.

Once you have priced the property, your agent will provide you with other foolproof tips to make your home market-ready, such as: 
  • Hire a professional photographer and videographer
  • Hire a professional stager
  • Update your curb appeal
  • Complete any unfinished home improvement projects
  • Clean your home from top to bottom
  • Declutter every room
  • And more
Once your home is ready, your agent will put it on the market, and it's only a matter of time before you find the right buyer for your listing.

Begin your house hunt

Once you and your agent have put your house on the market, you'll need to work on finding a new one. Take inventory of what you are looking for. What are the 'must-haves' you need for your new home? Perhaps you want to live closer to work or friends and family. Perhaps you need a more spacious home with a larger yard. Focus on why you are moving. This will make it easier to help you find the right home. If you work with the same buying and listing agent, your buyer's agent already knows what you need most. Ideally, you should be working with an agent who is familiar with your neighborhood or might even recommend another neighborhood you'll love even more.

Once you and your agent start touring homes, pay attention to your surroundings. What condition is the home in? Make sure the home is well maintained. You want to avoid any surprises later that could cost you thousands of dollars, so be sure to get a home inspection. Once you have found the right home, submit your strongest offer. Once you have an accepted offer, you are one step closer to moving into your dream home.

Make your move to Scottsdale today

Are you considering moving? Whether you are searching for homes for sale in Scottsdale or you are finally ready to buy your dream home, you'll need a Scottsdale realtor who can help you navigate the market with ease. When you need a local expert by your side, you need Roger Banning, your trusted resource in Scottsdale luxury homes. As one of the nation's top-rated realtors, Roger goes above and beyond to ensure his clients receive five-star service. Whether you are buying or selling, Roger will help you accomplish your real estate goals. Contact Roger today to get started on your house hunt!

*Header photo courtesy of Roger Banning


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