Jesus M. Fernandez, REALTOR® 786-553-7530
Morris Williams Realty: 888-326-3949
There is no town like my hometown! I have it all here!
Do you need to sell before buying?
Most home sellers need to sell first, before purchasing, in order to use the cash from the sale, for their new purchase. If this is your case, you've come to the right place! Below, you will find answers to the most commonly asked questions, when you need to sell before buying. As you will learn, it can be a balancing act and a matter of timing.
Before starting the selling and purchasing process, there are a few fundamental questions you must ask, which unfortunately, are often overlooked by many sellers and brokers, alike.
The first step involves deciding a few things, which are crucial going forward. For instance: Where do you want to go live next? Do you know the average selling price in the area? How soon do you need to or want to sell? Will you be financing or paying cash for your new home purchase? Do you have a mortgage? Any late payments over the last 12 months? Below, learn why its in your best interest to answer these questions first!
Do you know, where you want to go live next?
It may seem like a silly question, but knowing about the area you desire to move to is key going forward. You need to be acquainted with the average selling prices of homes in the area, property taxes and insurance costs, to have a better idea of their affordability. We would suggest that you search different areas, desirable to you first, to learn about selling prices and other costs. If you prefer, we can provide you with sales reports for any area in Miami Lakes, or South Florida. The comprehensive reports, detail listing price to selling ratios, average days on market, school information, and other critical information you need to know about any specific area. We would be happy to also customize a search portal for any area, to keep you up to date on the local market and the properties currently for sale.
After determining where you would like to live, don't overlook the next critical question!
"Give me six hours to chop down a tree and I'll spend the first four sharpening the axe."
-Abraham Lincoln
If purchasing a new home, will you be financing any part of your new purchase?
If yes, you will need to speak with a lender or two, and get pre-approved for the amount you wish to finance. Why? Regardless, whether you have a mortgage or not, you will need to confirm the loan amount you qualify for, or the amount you wish to borrow. There may be credit, income or debt issues, you may not be aware of, which may keep you from qualifying for a loan. Don't avoid this critical step! You need to make sure that you can qualify for a loan, otherwise, you may not be able to sell your property and purchase a new one!
Confirming your borrowing ability with a lender,
is one of the first steps, when selling and partially financing your next purchase.
Don't take this critical step for granted!
Jesus M. Fernandez
American Dream Maker, since 1995
Call me for a confidential private consultation.
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If you presently have a mortgage, have all your mortgage payments been on time, over the last 12 month?
If No, you may not be able to obtain financing on your new purchase. Additionally, if you have been late on any credit purchase, you may have a difficult time obtaining a loan, with most lenders. Check your payment history, with all you major creditors. To check your credit for free, click the following link. AnnualCreditReport.com Call us for more guidance or speak with your lender.
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Will my property taxes be higher or lower, when I purchase my new home?
The short answer is, it depends. The amount of property taxes on you new purchase, will depend on the purchase price of your new home, and if its higher or lower than the home your are selling. It also depends on the millage rate of where the properties are located and whether or not, you qualify for the State Florida's Save Our Homes tax portability program. To learn more click here. MY NEW PROPERTY TAX
Every selling and purchasing situation is different! We're sure that you have more questions than these. We welcome the opportunity to answer any of your questions and to learn more about
your unique selling and purchasing plans.
To call us today, Click on the image below!
One Home is all we want! And when you help someone find theirs, it's magic!
Call us for a private consultation, about your personal selling situation.
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