Hi all,
Wanted to pick your brains a bit and get your view on this.
My parents are pensioners and own their home. They are thinking about selling that house and buying something cheaper, newer, and closer to me. Their house value came up around $360-370K (according to real estate agents), and they would ideally buy a house for less than that as at this stage of their life, they wouldn't be able to get, or pay for, a loan.
My question is, how hard is it to sell & buy at the same time, and having two settlements a the same time? I.e. put their house on sale, find a buyer for that house, have a 3-6 month settlement, and in that time find something else, and settle both houses at the same time.
Is this do-able? Any risks involved?
I haven't seen any topics on this on this forum, so I thought I'd ask!
Wanted to pick your brains a bit and get your view on this.
My parents are pensioners and own their home. They are thinking about selling that house and buying something cheaper, newer, and closer to me. Their house value came up around $360-370K (according to real estate agents), and they would ideally buy a house for less than that as at this stage of their life, they wouldn't be able to get, or pay for, a loan.
My question is, how hard is it to sell & buy at the same time, and having two settlements a the same time? I.e. put their house on sale, find a buyer for that house, have a 3-6 month settlement, and in that time find something else, and settle both houses at the same time.
Is this do-able? Any risks involved?
I haven't seen any topics on this on this forum, so I thought I'd ask!