Homes: Sell at a Loss, Buy at a Discount

The Issue

A question I hear all the time these days is – "I would like to upgrade and buy a new home, taking advantage of low prices and low interest rates, but how can I do that while I still own my existing home? Can I sell my home at a loss and still buy a new one?"

The Solution

The answer is yes, you can and here’s how:

1. It is possible to sell your home at a loss as long as you have enough equity to break even. I have even helped clients complete transactions where they brought money to settlement in order to complete the deal. They then purchased their dream home at a drastically reduced price. So your first step is to get an idea of what your home is currently worth. Call or email me, I can help.



2. Obtain a loan pre-approval – find out what you can afford to buy now that interest rates are low. I am seeing 30 year fixed loans around and just below 5% these days. Talk to your lender or contact me and I will connect you with a lender who will review all loan options with you.



3. Shop Like a Shark – Once you are ready we can find the right home for you. When it comes to negotiating I am like a Pitt Bull and there are lots of great deals I can bite into for you.
   

If you or someone you know is interested in taking advantage of the opportunities in our current real estate market, call or email. I can get some good information into your hands.

Thanks for helping me better serve our Real Estate Community.