There’s no correct answer to this question. There are advantages and disadvantages to buying a home before selling your current home. If you buy a home before selling your home, you won’t have to worry about finding a new home before you must vacate your current property. But unless you have a high income, buying the new home will be contingent on selling your existing home. If your home doesn’t sell quickly, you may lose out on the home you want. Sellers want to know that the purchase of their home doesn’t depend on you selling yours. If you sell your current home before buying a new one, you’ll be in an excellent position to negotiate. The downside is if you sell your existing home before finding a new property and you’re unable to find a home on time, you’ll be stuck without a place to live. If this occurs, you may be able to negotiate a rent-back with the buyer. This agreement allows you to stay in your home for a set time after closing in exchange for paying the buyer’s mortgage.

Many homebuyers wonder who is responsible for paying REALTOR® fees, and with a recent change in California law, it’s important to understand how this works. Traditionally, the seller has covered both the listing agent’s and buyer’s agent’s commissions. However, as of August 17, 2024, a new California law allows sellers to decide whether or not to pay the buyer’s agent commission. This means that buyers may now be responsible for paying their agent’s fee. Before viewing homes, buyers must sign an agreement outlining this commission. That being said, when I submit offers on your behalf, I will always work to negotiate with the seller to cover this cost, either partially or in full. If the seller declines, the commission would be your responsibility.

The short answer is “yes.” There are many reasons why you should get pre-approved before looking for a new home. Talking with a bank will help you understand what you can afford. You won’t waste time figuring out if a home is outside your budget. When you find a home you love, you’ll want the best chance that the seller will accept your offer. Getting pre-approved by a mortgage lender shows the seller you can afford the property. Additionally, a mortgage professional can explain the different first-time homebuyer programs available and the costs associated with buying a home. They can also offer advice on the best types of financing.

Buying a home without a REALTOR won’t necessarily save you any money. There are several reasons to use a REALTOR to buy a home. REALTORS can help you get the most for your budget. They know if a home is priced too high (or too low) for the neighborhood and will make sure you don’t pay too much. Your REALTOR can save you time by weeding out properties that don’t match your criteria. REALTORS also have access to the MLS, which gives provides them with the latest property listings.