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How
much is my
home worth?
To find out your
current home’s value, contact Long & Foster for a free Market
Value Analysis.
Click
here
How much should
I ask for it?
View the asking price to the final sales price ratio.
Click here |
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In selling my house and buying a new one, what can I do to be sure I won't get stuck with two mortgages?
Your best strategy is to place your house on the market far enough in advance to attract a buyer, negotiate a contract with an
acceptable settlement date, then go house hunting.
If you find a new house before you've sold your old one, you have several options:
- You may be able to arrange a bridge loan (also "swing" loan) secured by the equity in either your old or new house to cover your expenses until the closing on your old house. Lenders of bridge loans sometimes require you to have a purchase contract on your old house. But bridge loans can sometimes be found if your house is not yet sold.
- If your move is job-related, but no home-purchase relocation program is in effect,
you might persuade your employer to either provide a bridge loan or pick up some of
your relocating expenses.
Whatever your specific circumstances, your agent can help you decide how to shift your strategy to fit the situation.
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