The right time and your three figures
You can sell in any season, but spring and summer are the busiest. Before you start, get three figures from your lender.
Sell first or buy first?
Sell first
You know exactly what you can invest. You may need to rent, or move twice.
Buy first
You choose without timeline pressure, at the risk of paying two mortgages at the same time.
Synchronize
A single transition, but it takes coordination: bridge financing, a line of credit or a conditional promise.
A promise to purchase conditional on the sale of your property protects you from paying twice. If the seller receives another offer, you'll have a deadline, often 72 hours, to remove the condition or withdraw.
Three figures to ask your lender for
- The balance of your mortgage on the planned sale date.
- The penalty if you repay before the end of the term, calculated on that date.
- The discharge fees your lender charges to close the loan.