It can be a catch 22 - what do you do first? The first thing to do is discuss your options with your professional St Charles County Realtor and reputable mortgage lender. Knowing your financing options is by far the most important step in deciding how to proceed. There are many different creative loan programs out there that may work for you, such as home equity loans, bridge financing or perhaps carrying both loans. These and other options are available to homeowners that are looking to purchase another home. After discussing these options with your lender and determining that you are qualified financially to purchase a home without the proceeds from your current home, now you must determine whether you are emotionally ready to do so. Attempting to purchase a home and tackling selling a home at the same time can equal double the stress if you’re not prepared. Your professional Realtor can help you through this stressful time. Learn more about Home Sale Contingencies (please add hyperlink to Home Sale Contingencies page in Buyers content) to prepare for a smooth buy and sell situation.

The Advantage of Using ONE Agent for Both Transactions

Having one qualified St Charles County RE/MAX Realtor working for you on both sides of the transactions can be huge plus. The terms of both the selling contract and the purchase contract can be more easily worked out to mirror each other for the best possible outcome for you. Having the details for only one side of the transaction can make it more difficult to retrieve pertinent information to facilitate both contracts.