Buying a Home and Selling a Home at the Same Time: Total Nightmare!!

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Sell Your Home - The Profitable Homeowner

Sell Your Home - The Profitable Homeowner

Күн бұрын

Пікірлер: 94
@KatiSpaniak
@KatiSpaniak 6 ай бұрын
*Need an Agent Anywhere in the Country?* ⭐️ I will help find you the perfect agent to sell your home, For Free! Fill out this form and I’ll get researching! ⭐️ bit.ly/FindAnAgentCM
@manualgearshift4965
@manualgearshift4965 9 ай бұрын
Years ago we bought and sold a house on the same day, the schedule didn’t leave time for a final walkthrough but the seller’s agent assured us the house was cleaned out. It was trashed with broken furniture left behind, a garage of weight equipment and tree logs. The agent ghosted our agent and we ended up clearing out the house ourselves.
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Ugh!!! Would always have a walk through!! Obviously your agent didn’t understand the ramifications!!! That’s terrible!!
@googlesmoogle7126
@googlesmoogle7126 8 ай бұрын
I don’t trust people not to do that because there’s too many shitty people out there. We’ve had it happen with a rental where the owners left all sorts of trash behind when they moved.
@sleeplesscrafter
@sleeplesscrafter 6 ай бұрын
My biggest fear is selling our home and not finding a home to buy until after the market has gone up again. For instance, my home was worth $200k a few years ago when my husband and I first thought about selling. Now it’s worth $350k (based on similar homes that recently sold on my street.) So if we sold our home a few years ago and didn’t find a house to buy until now, prices have nearly doubled in just two years.
@kat4393
@kat4393 6 ай бұрын
The key to getting a seller to agree to a contingency agreement is to offer more than their listing price to sweeten the sour
@lazygardens
@lazygardens 10 ай бұрын
If you can make an offer that does not depend on the sale of anything else, or the closing of anything else, you go to the top of the offer list.
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
That’s the truth!
@kimschneider6833
@kimschneider6833 3 ай бұрын
@@lazygardens since we will be moving from a different state we will be selling first. That way we know what $ we have to work with
@jimmysaint8539
@jimmysaint8539 10 ай бұрын
We had to show the seller our home listing before it went live to demonstrate we were serious about meeting our deadlines. It was a hot market and we priced about $25k below market value. The seller also knew we were selling our house because we specifically wanted their house, they accepted 90 days from accepting our offer until close. We accepted an offer within 2 weeks after being flooded with showings, and it closed without any hiccups. The seller of our new home did allow a home inspection which turned up some problems that had to be fixed so that ended up being expensive for them, we could have closed earlier if not for these issues, but our own buyers allowed for a rent back in their offer so we ended up using that since we couldn’t close early on the new home. But even so, we closed on time, exactly 90 days from offer.
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Thanks for sharing!! You obviously have already sold and bought! Good story. What made you come to take a look at this video? I'm curious about my viewers! :)
@jimmysaint8539
@jimmysaint8539 9 ай бұрын
@@KatiSpaniak I subbed a while ago, you were recommended on my home page, I believe it was a video about sellers overpricing their home (our seller also overpriced their home, which is also an interesting side story). Michael Jordan house not selling was interesting video from you too. Just watching whatever looks interesting on my sub feed, ha. Hope that was helpful.
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
VERY HELPFUL!! thank you!@@jimmysaint8539
@kathrynp7595
@kathrynp7595 10 ай бұрын
Love your stories, very helpful 👍🏼
@KatiSpaniak
@KatiSpaniak 10 ай бұрын
Thank you Kathryn! As always!
@rickdejean4649
@rickdejean4649 6 ай бұрын
When I close on my condo I will be moving into my van 😀
@lisak1476
@lisak1476 5 ай бұрын
Oo I’m right there with you! Me n my son (grown with his own home), will be selling and I’ll be homeless 😅but will be renting a car and room that day 😅 (until Find themost adorable (meant affordable but adorable would be cool too!), permanent place and daily driver vehicle etc). Holy moly! Please let us know how you’re doing! How are you?? I hope things are going very well and that maybe even possibly you’re having fun out there! 🥹 May God Bless You❣️🙏
@mo2890
@mo2890 13 күн бұрын
We are about to go threw this. Our situation os a little different. We are going to sell our current house in Sd. We have land already paid for in Tn but there is no house on it. We could A. Buy a house close to the property and build on the land when we can start B. Find a way to live on the land while we build C. Rent a place until we build. We have some equity in this house but we really don't want to put all that towards rent. We wamt to use the equity to build our next. I'm so nervous on how to go about this and even navigating even how to keep my kids in school during the process. Idk i figure we are going to do it ni mayter what so we are just going to just figure it out.
@GigiEmbrechts
@GigiEmbrechts 8 ай бұрын
This how I have always done this, except now looking for rural home so risky to sell in a good area but hard to find the right place.
@KatiSpaniak
@KatiSpaniak 8 ай бұрын
Rural living is all about the adventure, right? Keep searching, the perfect place is out there waiting for you!
@nancilycett9360
@nancilycett9360 9 ай бұрын
I'm in a tough situation. My husband filed for a divorce, and I make too little money to buy him out, so we have to sell. At the same time my disabled son and I need to buy. Inventory is low and prices are high. I'm very worried about this as we have a number of pets and therefore can't rent. I'm in the middle of pre-qualification right now, and I've been scouring the listings daily. Meanwhile, I rented a storage and have been packing and taking stuff over there regularly. What can I do about this?
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
You definitely need a good agent. Do you have one? But most likely you won’t be able to buy without your divorce being finalized. :(
@ts9971
@ts9971 4 ай бұрын
I'm moving from MA to NH, one of the most difficult juggling act i've ever done in my life.
@KatiSpaniak
@KatiSpaniak 4 ай бұрын
Moving can definitely be a challenge, but it sounds like you're handling it like a pro! Wishing you all the best in your new adventure in NH!
@debbielockhart7762
@debbielockhart7762 Күн бұрын
How odd about no bridge loans. They are common here in Canada. Used one myself a few years ago.
@bootstrapstylerich
@bootstrapstylerich 7 ай бұрын
My sister was a mortgage underwriter and ill-advised on Bridge Loans!
@manic4choc
@manic4choc 10 ай бұрын
As a new retiree, I expect to find a lender because I have a good pension, Veterans Affairs home benefit, and excellent credit score. I am mortgage-free in my current home. However, you mentioned the debt-to-income ratio and that it was challenging for retirees to get a lender. If I understood correctly, they had the cash but no income. Should I worry about the debt-to-income ratio in my situation? I'm subscribed to your channel because you have valuable content and I expect to learn more.
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Thanks for your comment and for your sub!! Yes. You should definitely reach out to a lender right away to see what your buying power is. Because you are a Vet, you may have other perks that work for you. And if you have a pension, I believe that should help as well! @RyanSkaggs is a lender who is watching all my stuff and we work with closely. You can ask him. Hopefully this tag worked!! :) Good luck!
@CatsAreNiceMeow
@CatsAreNiceMeow 6 ай бұрын
I'm using a real estate agent to help sell my house and buy one. Do I have to pay listing agent (not my agent) buyer tees as well as my agent for helping me buy a house? Do I have to pay double commissions when I purchase home? I emailed my agent this question twice but she does not answer that question. I'm nervous not having an answer. Thank you! Love all your videos!
@GigiEmbrechts
@GigiEmbrechts 8 ай бұрын
I am putting notes in mailboxes (we can do that in rural areas) on the houses I would like. I have found two house where the property is perfect. Seller changed their mind. Back to driving around. It works great in rural areas.
@kathygann7632
@kathygann7632 9 ай бұрын
I asked about a short term loan like the bridge loan. I was told a 6 month loan for about $400,000 would cost $14,000 for the interest, not counting other fees.
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Wow!!
@kathygann7632
@kathygann7632 8 ай бұрын
@@KatiSpaniak That’s what I thought! And 5% for realtor’s commission plus a new heat pump and moving to a place that costs the same as the place I’m selling is getting real expensive.
@denisecampbell8648
@denisecampbell8648 9 ай бұрын
Thanks for another important & informative video! Yeah the logistics are scary… especially if moving from the state you have lived in for whole life ( 56 years )to one 14 hour drive that you have never even visited… alone😜 prayers please
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Good luck!!!! Glad this was helpful!
@reebeeable
@reebeeable 9 ай бұрын
Really helpful, thanks.
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Thanks for your comment!
@RyanSkaggs
@RyanSkaggs 10 ай бұрын
07:53 - Such great advice!!!!
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Thanks!!!
@stacyg585
@stacyg585 7 ай бұрын
We did this 6 years ago. We sold our condo and bought a house at the same time. It was easier than I thought. We were paying for the new house in cash, and the one we listed had an offer in 3 days and was in a very hot market and was priced at twice the price of the new home, so i think because of those factors, it went very smoothly and the seller accepted our offer quickly. And the new house didn't have an offer on it and had been on the market for 2 weeks. We have been considering doing something like that again, but the trouble now is that, while the house we're living in now has appreciated by 200K, so has everything else, but our budget has pretty much stayed the same, so we are no longer able to buy in all cash (unless it's some tiny cramped old condo in the nice part of town), but we really don't want a mortgage and we don't really wanna rent. So we're hoping to stay in this current house long enough to save for a full down payment on a new and even better home, buy it while we're still in the current home (with a mortgage), then sell our current house, get our cash back and another 100k or more hopefully (who knows where the market will be in 4 years), and then pay off the mortgage very quickly. And then end up in our forever, higher valued house in a better neighborhood. Gotta do it soon, though, because I'm 48 and my husband is 51.
@kimschneider6833
@kimschneider6833 10 ай бұрын
Thanks for this information! Hubs and I may be planning a move to a different state about 150 miles away. I would love to hear how all that works. Our tentative plan is to sell our house first. I've already been looking at houses on-line.
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Great job! Reach out if you need an agent wherever you are going and in your community!! bit.ly/Find-An-Agent-41
@kathygann7632
@kathygann7632 9 ай бұрын
I moved 1200 miles away and rented for the first 6 months. It allowed me to check out neighborhoods to see what I preferred.
@kimschneider6833
@kimschneider6833 9 ай бұрын
@@kathygann7632 good idea! I've thought about that.
@pamelayeager2083
@pamelayeager2083 8 ай бұрын
After moving across the country, we rented for about six months. This allowed us time to decide where we wanted to live in proximity to our work. Best decision.
@jinnykim8740
@jinnykim8740 3 ай бұрын
When you rent, should you rent an apt or a house in the interim. I have family coming over a lot and it would just be easier to rent a house in the interim but there isnt a lot out there 😢
@evi-k7o
@evi-k7o 8 ай бұрын
Thank you...... I think I will be in this position June /July.... I hope I won t lose my summer holidays..... Evi, Athens Greece
@KatiSpaniak
@KatiSpaniak 8 ай бұрын
It's great to hear from you, Evi! I hope everything works out for you!
@marciamakoviecki3295
@marciamakoviecki3295 7 ай бұрын
People buy and sell all the time. And the other people in the chain of sales are often buying and selling the house that your client is buying, etc, etc.
@Carloshernadez1988
@Carloshernadez1988 21 күн бұрын
What is we have unconditional to appease the seller to secure our dream home and ours doesn't sell are we in.breach of contract, can we get sued?
@barbarabyrne2639
@barbarabyrne2639 9 ай бұрын
Great video
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Thank you!!
@mo2890
@mo2890 13 күн бұрын
I dont mean to spund dumb but why do you have to sell and buy on the same day? When we bought thos house we staued in a hotel until close. We were military so we didn't know where we were going to buy until after we where here.
@squidskunk
@squidskunk 9 ай бұрын
Can you please talk about buying or selling a home with unpermitted additions/upgrades..? what's the process what happens..?
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Typically you just need to disclose it to the buyer. It is what it is.
@jeannineterese1037
@jeannineterese1037 9 ай бұрын
I had a house sale contingency & got a bridge loan. 😂 great video!
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Thank you!!
@arnoldoduran7588
@arnoldoduran7588 4 ай бұрын
What if my current home doesn’t sale and I back out from the new one ? We haven’t signed the scroll for the new one on a deposit R we going to to b penanalized?
@KatiSpaniak
@KatiSpaniak 4 ай бұрын
Did you write a home sale contingency? Because if you write it into the contract that if your home doesn’t sell then you don’t have to buy theirs. Not sure the specifics of your state so definitely talk to your agent
@ramsrnja
@ramsrnja 10 ай бұрын
Can the lender fully underwrite before going under contract?
@RyanSkaggs
@RyanSkaggs 10 ай бұрын
YES! and in this current market balanced toward sellers it is incredibly important to get fully underwritten prior to making an offer. This would leave the lender with conditions like sourcing of insurance, title insurance, and appraisal (if applicable). Its my topic for my video this week on my channel lol.
@ramsrnja
@ramsrnja 9 ай бұрын
@@RyanSkaggs Thanks!
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
I was going to say "talk to your lender!" My thought was "no" but honestly things have changed so much recently. And I was going to ask @ryanskaggs about this!! So see, I didn't know! Thanks for your comment!
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Thanks @ryanskaggs!!
@ramsrnja
@ramsrnja 9 ай бұрын
@KatiSpaniak Maybe some will do it, some won't, perhaps.
@bluesky2145
@bluesky2145 3 ай бұрын
Couldn't get the free playbook. PayPal wanted to charge me $0.01. not free
@KatiSpaniak
@KatiSpaniak 3 ай бұрын
It’s free. But you can also go here sellerplaybook.com
@leonaowen9234
@leonaowen9234 10 ай бұрын
If you have a mobile home (not wanting to sell yet, (let my mother live there) but purchasing another home (understanding you have to own it two years to not pay capital gains if you sell it--knowing its to be your primary home---can you live in the new purchase somewhat part time and it still be considered primary home?
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Thanks for your question. And that is a good question... I am going to guess the answer is "no." But I would definitely as your accountant.
@misssparkle8317
@misssparkle8317 19 күн бұрын
I'd like to know what happens if you buy and sell on the same day, but that day the seller pulls out and your suddenly homeless! 😱 can that happen?
@BookZealots
@BookZealots 7 ай бұрын
This couple's lender didn't have an underwriter to continue the loan? too many lenders rely on the ridiculous credit score.
@54andBored
@54andBored Ай бұрын
I thought paying the realtor big bucks is why we don't need to learn all this..I'm not in realtor school. Leave the headache to your realtor
@superslyko123
@superslyko123 7 ай бұрын
Good Stuff! By the content in her video's you can tell she's a competent Real Estate Agent. She's even applied those same brain cells to her KZbin presentation. 😉
@KatiSpaniak
@KatiSpaniak 7 ай бұрын
Thank you!! Much appreciated!!
@KatiSpaniak
@KatiSpaniak 8 ай бұрын
*Thinking about selling your home in the next 5 years. Join my Ready! Set! Sell! Masterclass and find out all the ways to prepare your home to maximize your profit!* bit.ly/TLH-PIN
@Moving.To.Charleston
@Moving.To.Charleston 7 ай бұрын
Thanks Kati, love your videos 🫶🏻
@KatiSpaniak
@KatiSpaniak 7 ай бұрын
@@Moving.To.Charleston Thank you!
@adarajennifer
@adarajennifer 5 ай бұрын
The guy didn't pay his bills? And his wife didn't know that? And they wanted to buy a new house? 🤔
@KatiSpaniak
@KatiSpaniak 5 ай бұрын
Yep!
@НатаШ-ь8п
@НатаШ-ь8п 9 ай бұрын
I can tell that this is impossible if you have small kids.
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
It’s pretty hard…
@janety.1323
@janety.1323 9 ай бұрын
Or just buy an empty house!
@KatiSpaniak
@KatiSpaniak 9 ай бұрын
Could do that... but still need to close on their current home in order to buy.
@butterflygirl3359
@butterflygirl3359 7 ай бұрын
We did this twice. I nearly had a heart attack the first time and we ended up being blackmailed for a thousand bucks on the morning of the joint closing the second time. Would not recommend it, but it did work.
@KatiSpaniak
@KatiSpaniak 6 ай бұрын
Wow, that sounds intense! Glad it eventually worked out for you.
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