Selling + building
Do you need to sell your home first?
Not always. It depends on timing.
If you own a home now, the timing of the sale is the biggest part of a new construction plan. Get it right and you move once, with one mortgage.
What is my home worth? Talk it through with CraigFour ways to time the sale
Sell first, then move in
You know your exact budget and you shop as a non-contingent buyer. The tradeoff: you may need short-term housing, or a rent-back from your buyer, until the new home is ready.
Buy with a home sale contingency
Your purchase depends on your current home selling. Some builders accept this and some do not, especially on a home already under construction. Ask the builder for its terms in writing.
Time the listing to the build
Start the build, then list your home as completion gets close. Build dates can move, so plan a buffer and agree on a closing date your buyer can flex.
Use your equity before you sell
Some buyers use a bridge loan or a home equity line for the down payment, then pay it off when the old home sells. Ask a lender whether you qualify carrying both payments.
Start with what your home is worth
The free estimate takes about a minute and is a starting point. For a number you can plan around, Craig prices your home against recent sales on your street and in your subdivision.
Get a free home value estimateOne agent on both sides of your move
Craig lists and sells your current home and represents you with the builder, so the two closing dates are planned together instead of by two people who never talk.
Questions to ask before you sign with a builder
- Will you accept a home sale contingency, and for how many days?
- What is the earnest money, and is it refundable if my home does not sell?
- How firm is the completion date, and what happens if it moves?
- Can I lock my rate for the length of the build, and what does that cost?
Thinking about building?
The builder's sales agent works for the builder. Craig Ziegel can represent you: compare builders and lots, review the contract and walk-throughs.
Call or text 618-719-4543.
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