Buying and Selling a Home at the Same Time
Are you wondering what you need to do if you are buying and selling a home at the same time in Buffalo? Avoid the common pitfalls, check out this video by Richard Cole, an experienced Buffalo Real Estate Lawyer to learn more.
- Selling one home and buying another creates a set of complexities that goes beyond those of a regular real estate transaction because two transactions must take place concurrently, following a mirrored path that allows both to close on the same day.
- It will be necessary to involve additional people because you now need to coordinate the efforts of attorneys for the seller and buyer involved with your sale, as well as those involved with your purchase.
- If that is impossible, you may have to consider obtaining early entry into the home you’re purchasing and completing that transaction on a separate day, or delaying your purchaser’s occupancy of the home you’re selling so that you can move out a day or two after closing.
- Early entry and post-closing occupancy can be tricky because everyone involved must agree. You essentially enter into a short-term lease agreement to cover the days of post-closing occupancy during which you no longer own the home.