Hey!
I own a condo and may be looking to buy a similar one in a quieter area.
My general question is how do people coordinate buying and selling at the same time? I mean, doesn't such a tight squeeze put pressure on you to either pay more for the new place than you normally would have or sell the old place for less than you normally would have? If you find a new place, you pressure to sell your old one. If you sell your old one, you pressure to buy your new one?
I know you can put 'contingent on selling' or 'contingent on buying' -- how do those play out?
Also, has anyone ever sold without a Realtor? How easy or hard is that? There are a lot of investors buying other units and I may be able to just sell to one of them. Negotiating a price seems tricky.
And finally, the prices should be about the same. The new place should be slightly cheaper actually. If I have to get a new loan, it would be very small. I am hoping I don't need to get a loan at all. If I can avoid the loan, will I save much in new fees? I know there is an origination fee but otherwise all the other fees (title, insurance, etc.) are necessary even without a loan, yes? I'm just asking if it is worth it by much to avoid a new loan or if a small one for a year or two seems negligible. (I'd hate to lose out on a new place cause I was short 1% or stress much about it if the difference in loan vs cash is small. But if its worth it, I can wait too).
Thanks for any insight!
I have bought my place and I have refinanced it but I have never sold a place or bought a place while selling.
Thank you.