A common problem that my clients encounter is that they need to buy and sell a home at the same time. This is a difficult hurdle to jump, but it can definitely be done.
Your first and best option in this scenario is to speak with a mortgage banker to ensure that you have the income and the assets to complete a transaction like this. This will allow you to learn whether you need to buy before you sell a home. Most homeowners aren’t in a situation where they have the credit or funds to pay two mortgages at once.
This would lead to your next step: speaking with a local real estate agent. You’ll need a professional that knows the market well, and someone that would be able to time a transaction accordingly. Your agent needs to know how competitive the market is where you’re looking to buy, and what options you have moving forward in that market.
The benefit of working with my team is that I’m both a mortgage banker and a real estate professional, so in one conversation you can find out the easiest route to take in a simultaneous buying and selling position.
In just one hour, we could find solutions for you and your family. Please don’t hesitate to contact us today!
Are you prepared to win a multiple offer situation in Rochester as a home buyer? I’ve got some tips that can help put you over the edge and win those battles.
The first and most important thing is to hire a team that specializes in that particular area. My team, for example, has about 15 agents who are also top agents in the area. A lot of listing agents know who we are, so when we make an offer for you, there’s typically a relationship with the listing agent.
The second thing to look out for is what to do when making an offer over list price. If the list price is between $150,000 and $400,000, in most cases, offering $5,000 to $7,000 over should work. If you find yourself in a very competitive situation, try not to give appraisal guarantees, but a lot of times it can help. This means if the appraisal comes up short of the offer, you guarantee to cover the gap.
Another alternative if you can’t win a multiple bid situation is finding a great home in a great neighborhood that has good infrastructure, then add the cosmetic updates to your liking. Your goal should be to get about 5% to 7% sweat equity after that.
Thanks for watching today. If you have any questions, feel free to reach out to us.
It takes many different moving parts for a team to be successful like ours has been. We want to introduce you to our team today and give you a little bit of information about each of these people who work together to make our team successful.
Let’s start with Brad Saarela, our team leader at Andrews Realty Group and Somerset Lending. Over the last 15 years, he has helped over 1,000 families and is looking to help even more in the future. He enjoys spending time with his wife and children, listening to music, and reading about economics.
Travis Keck is a buyer’s agent and listing specialist, as well as a licensed mortgage banker. He is from Piatkowski, Michigan and brings a small-town mentality to the big suburbs. In his free time, he likes to hang out with his wife and play catch with his son.
Ryan Dillon is a listing and buyer specialist,as well as a licensed home builder. Ryan brings a unique perspective to the home buying and selling process. In his free time, he likes to kayak and bike in and around the Rochester area.
Jason Patrick is a buyer and listing specialist, as well as the recipient of the customer service award for three years running. He has a wife and three kids, and likes to write music in his spare time.
Miranda Kelle is a buyer’s agent and inside sales rep. With her passion and integrity, your home transaction will be an enjoyable experience. In her spare time, Miranda raises show pigs.
Nick Valitutti is a buyer’s agent and inside sales rep. Nick is a highly-dedicated team member that places emphasis on your goals. On the weekends, he likes to ride dirt bikes and compete in motocross competitions.
Ben Schomer is a buyer’s agent, inside sales rep, and mortgage banker. He can personally answer all of your questions from A to Z. In his spare time, he enjoys running on the trails in Rochester and coaching basketball.
Steve Barnett is our team banker at Somerset Lending. His pledge to you is to give you a quick and precise pre-approval. In his spare time, you can find him listening to music or out on the golf course.
That’s just an introduction to the great members of our team, who rank in the top 5% in Oakland County. If you have questions for any of us or need help with anything, give us a call or send us an email. We look forward to hearing from you!
