Tips for Buying and Selling Your Home at the Same Time | Peoples Bank

Your house is on the market and you’re in the process of buying a new one. This scenario can be stressful and scary, especially if you’re not getting any offers on your current home.

With the help of a realtor and a lot of coordination and planning, buying and selling your home at the same time can go off without a hitch. Here are some practical tips to help you succeed as both a buyer and a seller.

Choose An Experienced Real Estate Agent

It’s important to contact a real estate agent as soon as you begin entertaining the thought of moving. An experienced West Texas agent will not only be able to help you determine the market value of your home, but they’ll be able to talk you through timing, strategy, and negotiation as it pertains to the current real estate market.

Crunch Your Numbers: What Can You Afford?

Make sure you check your credit report and know your credit score before getting a mortgage. Be sure to check your report for errors. The better your credit, the better the loan you’ll qualify for and the lower your interest rate.

There are many online calculators that can help you determine how much of a monthly mortgage you can afford. Be sure to factor in the money you’ll need for a down payment, closing costs, inspection and appraisal costs, and more.

If you’re selling a house with a mortgage, find out how much equity you have built up and consider if you’d be able to purchase without using it. The equity you have in your home won’t be accessible until after the sale closes, so take that into consideration if you don’t have enough cash on hand before your current home sells.

Choose the Right Lender

Find the right mortgage lender for you.  

Our Peoples Bank Home Loan Center team offers you a complete mortgage loan service, offering FHA, VA, and conventional financing. Peoples Bank provides interim financing for construction, and our Home Loan Center provides permanent financing for your new home or refinancing for your present home. Our friendly and professional staff has years of Mortgage Loan experience to serve you.

Ready to get started? Contact the Home Loan Center team today.