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Heather Thram
Rick Thram
Christina Meyer

Monday, June 13, 2016

An Alternative to the Risk of Buying and Selling Simultaneously

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Buying and selling a home simultaneously can be harder than it sounds, but it can be done. Traditionally, buying and selling at the same time takes one of three courses:

  1. Putting your home on the market while you're currently shopping for homes. If you found the perfect home before your home was sold, unless you can purchase without selling your home, you'd write a contingent offer. A contingent offer is one that's going to have the least amount of clout with a home seller. With your home unsold, you can't guarantee that you'll be able to perform on the purchase agreement.
  2. Sell your home first and hope that the home for you is available between your sale and the closing date that you set on the purchase agreement. Many home sellers don't like this course of action, because they're afraid that once they've sold their home that they won't find the perfect home to move to. This is especially true in fast-moving markets.
  3. Either purchase your next home without your current home selling and risk the possibility of having two mortgage payments, or just plan on making two moves. The second option involves selling your home and moving into a rental while you search for a new home.

All of these have been the courses of action over decades and decades of home sales. Now, we've got a better answer - what we call the trade-up program. With this program, if you're a seller looking to purchase your next home, we offer you the services of our home buyer agent to help you find the perfect home, and at the same time when we list your home for sale, we offer to do a trade up, which is essentially a guaranteed sales price on your home, contractually binding us to purchase your home if we don't sell it in a prescribed amount of time.

Our trade up program is very in tune with the current market value of your home.

Unlike other guaranteed sales offers, our trade up program here in Prior Lake is very in tune with the current market value of your home. It's not a program where we offer you 70% of market value and strip all of your equity away. We can utilize market evaluations and appraisals, and offer you a very competitive bid on your home, and get you in your next home at the same time.

If this program may fit your needs or you have any questions about real estate in our area, please feel free to reach out to us.

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