Timing can sometimes be
difficult if you have to sell a home before you can buy another one. Most people
need the equity from the sale of their first home for the down payment on the
new house. If your present home goes on the market first, you may be concerned
that it will sell before you find the one you want to buy. If you find the
perfect home before your present home is under contract, the sellers may be
reluctant to accept your offer, and you may be too nervous to sign a contract.
It is a good idea to sit down with a good Realtor
for some professional advice before you begin your search. It will probably be
necessary to be flexible on the closing date because it is usually easier to
find a home that you want to buy than to sell your present home. If you have
found the house you want, you can ask the lender about arranging a short-term
bridge loan that can make it possible for you.
