You are ready to buy your next home but you need to sell your current home in order to do that. The question then is do you sell first, then buy or buy first, then sell?
The answer is simple but complex. In most cases you should sell first and then buy. That way, you sell for as high as possible without the stress of a deadline of a subject to sale offer you’ve made on your next place.
The other option is to buy first and then sell. In this case and in the current Vancouver market you would need to make an offer on your next place subject to the sale of your current place. The issue with that can be most sellers do not get excited about these types of offers and therefore can be harder to negotiate with on price. Should you get an offer accepted then you need to sell your place. If you do not sell quickly you may find yourself with low offers that you’ll feel compelled to work with in order not to lose your next place. If the numbers make sense then you’re good. But, the point is, you may be leaving some money on the table.
Please note: this is a brief summary of the situation. What you are selling and what you are buying play huge roles into the best course of action. If you are thinking about selling and buying this year or next call or text me. Now would be a great time answer some questions and gain some knowledge.