Real Estate Agents in Ottawa are a great resource and provide answers to many MLS Ottawa frequently asked questions. You own a house now, but you want to move to a bigger place or a different neighborhood. Should you sell your current home before you buy your next, or should you buy first, and then sell your existing home? Though this is a very common question, there is no "right" answer. The answer depends on a number of variables, but is a common question asked of Royal LePage Real Estate agents.
Human nature being what it is, once the decision to move is made, people usually put a great deal of effort into finding that perfect home – sometimes without giving much thought to selling their current one. If, for a fleeting moment, they do consider whether to sell first, they figure they won't have trouble finding someone eager to buy their charming home, so they once again focus on buying. Then, once their offer on a house has been accepted, their attention shifts to selling their current home. At this point, however, they may begin feeling that the clock is ticking because usually they need to sell before they can remove the First Refusal Conditions (a condition allowing for the Buyer to sell their home first) in their Agreement of Purchase and Sale. During this conditional time period, the home they so dearly love is still being offered for sale and if another buyer comes along they may lose their option on their dream home, unless of course they are able to afford two homes at the same time. Fearing that time is running out, may become overwhelming.
Selling your existing home before buying your next home has its advantages. By selling first you know how much money you'll be getting on closing, which helps you establish a price range for the new home. Also, if you've already sold you don't have to make your offer conditional on selling your existing home. The down-side is that you may not be able to find a satisfactory replacement before the closing on your current home, which means you may need to find someplace to live temporarily. Or, you may be tempted to settle for something that isn't quite what you want.
Félice Miranda understands the meaning of customer service. Not only skilled as a realtor with a proven track record in the Ottawa-Carleton region, Félice also brings to the table years of experience in the financial services sector. Her boundless energy and infectious enthusiasm will make selling or buying a home a pleasure. Find out why Félice is so well-respected by clients and colleagues alike; put her to work for you! Feel free to contact me by email email@example.com, 613-825-7653 or at 2900 Woodroffe Avenue, Ottawa, Ontario, K2J 4G3.