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Buying & Selling Your Home. What Should Come First?
Deciding whether to sell your home before buying a new one or vice versa is a major financial and logistical decision. Selling first provides financial clarity and eliminates the risk of carrying two mortgages, but it can leave you scrambling for temporary housing. On the other hand, buying first allows for a smoother transition with only one move, but it comes with the challenge of managing two mortgages if your current home doesn’t sell quickly.
Navigating both transactions at the same time requires careful planning. Limited buying power, coordinating showings, and the possibility of a delayed sale can add complexity. By working with an experienced real estate agent and considering options like bridge loans or lease-back agreements, homeowners can create a smoother transition. Ultimately, the best approach depends on personal finances, market conditions, and long-term goals.
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The Risks of Overpricing or Underpricing Your Home
Every home seller hopes for a fast sale, while buyers are always looking for a good deal. Setting your price too low can make buyers question its value, while a price that's too high may scare them off. Striking the right balance requires careful research, realistic expectations, and a clear understanding of current market trends.
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Steps to Selling Your Home
Selling your home in Alberta involves a few key steps. First, prepare your home by decluttering, staging, and making necessary repairs. Next, choose a real estate agent and list your property on MLS® to maximize exposure. Once you receive offers, review and negotiate terms before accepting. After fulfilling any conditions, the sale is closed, and you move out. Working with an experienced realtor ensures a smooth, efficient process from start to finish.