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Do I need to sell before buying? Everything you need to know before making any decision

When it comes to selling your property in North Houston, one of the most crucial decisions to make is whether you plan to purchase another home with the proceeds from the sale. Your real estate agent will be by your side to provide guidance, but it’s essential to be prepared and have clarity from the outset. Here are some key questions your agent might pose:

1. Do you intend to purchase another property with the sale’s proceeds?

This question is especially relevant if you currently reside in the property you wish to sell. Determining whether you plan to reinvest in a new home or take a different path is the first important step.

2. When would you like to hand over the property once the sale is closed?

This detail is essential for planning the logistics of the transaction. Whether you need time to move out or are ready to vacate the property immediately, defining your delivery expectations is crucial.

3. Have you obtained mortgage pre-approval to know how much you can spend on the new purchase?

It’s important to be pre-approved for a mortgage before beginning your search for a new property. This will help you determine how much you qualify for and avoid financial issues during the purchase process.

Complete honesty and transparency with your real estate agent are of utmost importance, as this will directly impact the successful outcome of the transaction. If you don’t have the necessary funds to acquire another property immediately after selling the current one, your agent can assist you in including a contingency in the offer for the new property. This contingency is reflected in a purchase agreement that states the acquisition of the new property is subject to the successful sale of your current property.

Remember, your agent will be there to provide you with the best guidance at every step of the process. We are here to help you make informed decisions and achieve your real estate goals in North Houston!

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