In a "seller's market," these offers can be less attractive. To strengthen your position, ensure your current home is already under contract before making an offer on a new one. Phase 4: Due Diligence and Inspections Once you are "under contract" on both ends:
To get the best price for your current home, you must transition from "homeowner" to "seller." steps to buying and selling a home
Work with an agent to analyze "comps" (comparable homes recently sold in your area). Pricing competitively often generates multiple offers, which gives you more leverage regarding your closing date. Phase 3: The Search and the "Contingency" In a "seller's market," these offers can be less attractive
Determine how much your current home is worth and subtract your remaining mortgage balance. This "net proceed" estimate will likely serve as the down payment for your next purchase. Pricing competitively often generates multiple offers