A lot of individuals who buy will most likely sell their home at the same time. You should know that other people have experiences the exact stressful situation and it does not make the process easy. Everything is time sensitive. When your potential buyer changes their mind about buying a home, you will not have the money to use on your new home. If your home sale ends up falling through and your home sells, you will end up not having a home at all.

1) Don’t wait too long to get your home ready prior to selling it

All homes need a bit of maintenance prior to the home sale. You might have to repair the deck, paint up the scratches on your wall or regrout your tile. You shouldn’t wait last minute to start this repair process because you may end up in a crunch with money.

2) You save up in case of a backup plan

If you buy and sell your home simultaneously, the work will most likely double. If any parts of the process get messed up, this can impact both the buying and selling parts. It would be a good idea to save up money for emergencies. There may come a time when you need to stay at a hotel for one week or you may need to rent a place for a short time period as well. 

3) Don’t buy a home too big

A huge mistake that a buyer and seller can make is not getting pre-approved for your mortgage. You need to get pre-approved because it could stop you from drifting off from reality and let you know the exact size of home you could afford on a monthly basis. A buyer will assume that putting a large down payment automatically qualifies for a larger mortgage.

4) Don’t make your cushion tiny

You need to have knowledge of the price of your home. What happens when the real estate market goes bad? Your down payment will be lower if you take an offer that is twenty thousand dollars less than what your home is worth. You need to assume that your home will sell for lower than what you expect.

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5) You need to compromise on your home

You have to remember that you are human and may get stressed in this process. The opposing side is under stressed also. You have to know this when problems arise. For instance, if people who are looking to buy a home want an additional few days of escrow due to the selling of their home, the people selling the home they want don’t think they will have to fix the piping. 

6) Don’t use two realtors to buy and sell your home

You need to know that this complicated transaction could get even more complicated if you have two different agents selling and buying your home. You could make things simpler and use one realtor for buying and selling. If you stay in the same city, you may also see and warm up to a realtor who wants to work only with one side and not the other.

7) Closing at the end of the week

While you should work with your agent to find the best timing, you should ideally want to finalize the sale of your current house first. Afterwards, you would want to close on your new one. You need to try to aim for closings within two or three days of the other and not on a Friday.

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Courtesy of Cuselleration