Homeowners who are looking to buy a new place have to juggle two transactions. Here are some tips to navigate the schedule. Plenty of people find themselves buying and selling a home simultaneously, but knowing that others have gone through the same stress does not make it one bit easier. After all, the stakes are so high: If your buyer backs out, you don’t have any cash to land your next home! Or if your own purchase falls through but your current home sells, you’re homeless! It’s all like walking across the Grand Canyon on a tightrope: The tiniest thing goes wrong, and you fall. Breathe in. Don’t panic. It turns out that most buying-and-selling mistakes are easily avoidable—or at least predictable. Follow these tips to enter escrow with eyes wide open. 0:18 - 1. Buying too big Pre-approval is essential, because it puts a stop to unrealistic dreaming by telling you exactly what size of house you can afford. 0:38 - 2. Working with too little cushion You know what price your house should sell for. But what if the market softens? If you’re forced to take an offer that’s $20,000 less than expected, there goes the down payment on your new home. 1:03 - 3. Failing to compromise Don’t forget you’re not the only human in a stressful situation. That person selling your dream home? And the buyers under contract for your current place? They’re all probably stressed, too. 1:30 - 4. Using two different real estate agents Expect this already messy process to get even messier if you’re juggling agents for your listing and for buying a new home. Simplify things by using the same agent for both transactions. 1:48 - 5. Closing on a Friday… While you should work with your agent to determine the best timing, you’d ideally want to finalize the sale of your current home first, and then close on your new one. Try to aim for closings within two or three days of the other—and never on a Friday. That’s because bank transfers can take a few days to go through. In order to ensure there’s money in your account when the time comes, buffer a few days to transfer funds. More House Rules - Advice from Real Estate Pros: https://www.youtube.com/playlist?list=PLmlKLrMX62MYW8m4HYcpTO-4eiJFgK8te ********* Find your home on https://www.realtor.com ********* Download our mobile app: https://www.realtor.com/mobile ********* Follow us on: Facebook: https://www.facebook.com/realtor.com Twitter: https://www.twitter.com/realtordotcom Instagram: https://www.instagram.com/realtordotcom Pinterest: https://www.pinterest.com/realtordotcom -~-~~-~~~-~~-~- Learn More about the home buying process: "Home Buying 101: How Do I Get Started?" https://www.youtube.com/watch?v=zqZI4ZvjcRM -~-~~-~~~-~~-~- #realtor #realestate