SELLING
The big question
Buy or sell, which comes first?
I
n today’s real estate market, homeowners who
have decided to move to another property may
find themselves sitting with the conundrum
of whether they should first sell their current
property or find a new property and then sell their
home. The answer to this question will be different
for every homeowner, based on their personal
circumstances and unique situation.
T here w i l l be severa l elements t hat cou ld
inf luence the homeow ner’s decision in cases
such as these. These factors could include the
financial options available to them, local market
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Residential Handbook 2014
cond it ions a nd of cou r s e t he home ow ner ’s
feelings about moving more than once should
they have to vacate their current home before the
new home is available.
Factor one: finance
While every homebuyer would ideally like to have the
option of purchasing their next property with cash,
most homebuyers are reliant on banks for finance.
Essentially what this means is that homebuyers who
are upgrading to a larger or more expensive home
may need the equity from the sale of their current
home as a deposit.
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