After making the decision to sell your house so you can move to a different one, you will need to hire a realtor for help. The realtor will list, advertise, and show your home, and eventually he or she will find a buyer for your house. This process usually takes time, but it can go much faster than you expect. If your realtor finds a buyer right away, you may be left with some decisions to make and problems to solve. The main one is how to handle this sale before you have found another house to buy. Here are three options you could consider using during this transitional period.
You could try pushing out the closing date to give you more time to find a house
The first option you have is to try to locate a house to buy quickly and push out the closing date on your house for as long as possible. The downside to this option is that it gives the buyer more time to find a way out of buying your house. Talk to your realtor about a better option if this is a concern.
You could move out and rent a house
The most common option people in this situation use is moving out and finding a short-term rental property. This is the best option to use in many cases, simply because the sale of your house will go through within a normal amount of time, and you can rent a place until you close on your new house.
There are a few downsides to this option, though. The first is that you will have to move twice, and moving is really not a lot of fun. The other downside is that it may be hard to find a place to rent for just a short amount of time. Many rentals require a one-year lease, and you may not want to live in limbo for an entire year.
You could ask the buyer if you could rent your own house
A third option you could consider is asking the buyer if you could close on the house but rent it until you find a house to buy and close on it. This option is not commonly used; however, it's worth a try asking the buyer if he or she would allow this. In this case, you could stay living there even after closing, but you would have to pay rent. This would both eliminate the need to move twice and give you time to find the right house to buy.
Hi, my name is Jessica Williams. Thanks for stopping by my website. I have moved a number of times and in three cases I have had to sell a house. The first time I sold a house I listed it with a real estate agent. The second time I did it myself. The third time I listed with a realtor. You can probably ascertain from this information that I found listing with an agent the better route. I managed to sell my house by owner that one time, but never again. There is too much involved and too great a risk for errors. There’s a bunch of paperwork and preparation that goes into selling a house, more then I imagined. My goal here is to share my experiences with you. My hope is to make your experience as pleasant as possible.