Upgrading To A New Home While Selling Your Current One

1. Timing: It's important to consider the timing of both the sale of your current home and the purchase of your new home. Ideally, you should try to coordinate the closing dates so that you can move directly from one home to the other without needing a temporary living arrangement.
2. Financing: If you're planning to sell your current home and use the proceeds to help finance the purchase of a new one, you will want to get pre-approved for a mortgage so that you can have a better idea of how much you can afford to spend on a new home. It may also be a good idea to speak with a real estate agent and a mortgage broker to discuss your options and to help you make an informed decision. You can always count on our team at Silverback Realty to help guide you every step of the way!
3. Contingency clauses: You may want to include a contingency clause in the purchase contract for your new home that allows you to back out of the deal if your current home doesn't sell within a certain period of time. This will help protect you in case the sale of your current home falls through and you're unable to complete the purchase of your new home.
4. Staging: You may want to consider staging your current home to help it show better and potentially speed up the sale process.
5. Backup plan: It's always a good idea to have a backup plan in case something goes wrong. This could include renting a storage unit, having a temporary living arrangement, or having a plan in case the purchase or sale of your home falls through.
6. Keep communication open: Keeping good communication with all parties involved and being transparent with the buyers and sellers, Realtors, mortgage brokers, etc, will help avoid surprises, and ensure a smooth process.

Keep in mind that upgrading to a new home while selling your current one can be a complex process, so it's important to be well-informed and to work closely with a team of professionals to help make the process as smooth as possible.

If you have any questions on home buying, home selling, or on the current state of the real estate market in San Antonio and Surrounding Areas, I'm happy to help!

Carmen Buenrostro

Real Estate Broker | Co-Founder

Silverback Realty, LLC

San Antonio & Surrounding

C: 210-712-9068

carmen@silverbackrealtysa.com