Maybe your family has outgrown the current home you live in, you may want to be closer to your new job, or would like to live in a different area of town. Whatever the reason, many people desire to buy another home. Before you begin your home search, it is important to devise a plan.
Homes are clearly taking longer to sell in Colorado Springs than in previous years so it is wise to sell your current home before purchasing another.
Being stuck with two mortgage payments is a dangerous position to be in for many homeowners unless the homeowner is able to cover the mortgage payment by having it rented.
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Another option available to sellers once they find another home to buy, is to make the offer contingent on the sale of their home. Keep in mind, some sellers will not accept contingencies, especially, if the home is a short sale or bank owned property.
Sellers can also choose to submit a contingency offer once their own home is under contract; this type of contingency offer appears more stable when compared to a home that is just sitting on the market waiting to sell alongside the others in Colorado Springs. The downside: you would have to find a home fairly quickly after your home goes under contract. Have a few homes selected in advance and hopefully they will still be available
when your home goes under contract. Make sure to hire a qualified Realtor in Colorado Springs in order to ensure that the transactions for both homes are monitored closely to avoid any unnecessary bumps in the road.
Selling your home and then renting for a few months until buying your next home may be less of a headache but keep in mind you will have to move twice and moving can be a huge hassle!
For information on the buying process and available Colorado Springs Housing please go to www.patricia-beck.com.