Dean Lupson
Buy first, then sell
The other option for downsizers is to search and secure the
right property to downsize into, then sell the family property
afterwards. Like the option of selling first, you can purchase
a property now with an extended settlement period to allow
you to get all your affairs in place before selling your property.
Purchasing a property with an extended period of settling is just
as common as selling with an extended settlement period. The
period can vary from 120 days to 180 days or even 365 days in
some cases.
Right now we are witnessing a large number of downsizers
purchasing property ‘off the plan’ where the developer and
builder are yet to start the project, giving the downsizer plenty
of time to reduce the size and amount of personal belongings
prior to moving into the smaller home.
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