Let’s clarify for a moment what SOLD means.
By sold, I mean having identified the customer who has made you a reasonable offer with the price you want, and with whom you have made a preliminary agreement.
The person interested in your home has, that is, paid an advance. There is a document that certifies it and in which you promise that you will deliver the house within a period established by both of you https://www.sellmyhouseinoklahoma.com/sell-my-house-fast-oklahoma-we-buy-houses-fast-for-cash-oklahoma/
This means having sold.
→ how much you have collected
→ there is a guarantee given by a deposit
→ do you know how many months are for delivery.
Then you move and look for a house.
▪️What are the advantages of this choice?
You know exactly, beyond your expectations, how much actual money you have in your pocket. Regardless of mortgages or no mortgages, you know that this money is safe, because there is already a person with whom you have signed a protective contract who has declared that they will give it to you.
A deposit is paid by whoever stops your house. So you already have money in your hand, which you can use in turn to stop another house, without moving personal money or resources destined for something else.
You have a clear timeline ahead of you , which allows you to easily manage another new purchase.
Let’s say you have everything under control. The economic aspect, the logistical aspect, the times. You even have economic guarantees – the money paid by your buyer – which you can use to stop the other house. Here the sale, for you, has a very clear, safe process. Virtually risk-free.
“ What if my buyer changes his mind? Or does something happen that he can’t buy my house anymore?” Relax. The law provides for protection. This buyer will lose the deposit he paid you.
“ But I too have paid a deposit to stop the house I want to buy!” you will say.
Real. But if the money you used for the deposit on your new purchase is the same money you received, you’re back exactly at the starting point: you didn’t sell, you didn’t buy. You still have your home to sell, but you haven’t lost any money.