Buying
Brad's full buying process across Western NY & Northwestern PA.
See the buying process
MOVE-UP BUYERS
Moving Up Without Losing Control of the Move
Buying the next house is easy to imagine. Coordinating two transactions is the hard part.
Move-up buyers are solving two problems at the same time:
How do I sell my current home well? and how do I buy the next home without getting stuck in between?
The answer starts with planning the sequence before either property hits a critical deadline.
Should you sell first or buy first?
There is no universal answer.
The right sequence depends on equity, financing, available inventory, timing and how much uncertainty the homeowner is comfortable carrying.
Some sellers need the proceeds from their current home before purchasing another.
Others may have financing that allows more flexibility.
Know what your current home gives you
The existing property is not only something to sell.
It may also be the financial foundation of the next purchase.
Before beginning the new-home search, Brad can help estimate the current property's likely market range and discuss how its potential sale fits into the larger plan.
Define the next house carefully
A move-up purchase usually happens because something about the current home no longer fits.
Maybe more bedrooms are needed.
Maybe more land, a larger garage, home office, different layout or another community.
Defining the actual problem is important because “bigger house” is not enough to build an effective search.
What if your home sells before you find another?
This is one of the biggest concerns move-up sellers have.
Potential solutions depend on the transaction and may include coordinating closing dates, negotiated occupancy arrangements, temporary housing or structuring the sale and purchase with appropriate contingencies.
Not every option works in every transaction.
The important part is thinking through the possible outcomes before accepting an offer.
What if you find the next house first?
Then financing and offer structure become especially important.
Brad can work with the client and lender to understand what is practical before the buyer becomes dependent on a transaction structure they cannot support.
STRAIGHT ANSWERS
Move-Up Buyer Questions
Do I need to sell my current home before buying?
Not always. Financing, equity and risk tolerance determine whether selling first is necessary or simply one available strategy.
Can I make an offer contingent on selling my house?
Contingencies may be possible depending on the property and market conditions, but their attractiveness to the seller can vary.
How do I know how much equity I have?
Estimated market value minus the amounts owed against the property provides a starting point, although actual net proceeds also reflect transaction expenses.
When should I start looking at homes?
Start understanding the market early, but build the financial and selling plan before becoming dependent on purchasing a particular property.
Can Brad handle both sides of the move?
Brad can coordinate the strategy for selling the current property and searching for the next one so the two transactions are planned together.
READY WHEN YOU ARE
Build the plan before the pressure starts.
Tell Brad where you are now and what you want the next home to accomplish.
We'll work backward from there.