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Peter Mulholland | Ora Ross together with their team of professionals offer the utmost in client customer care and experienced quality service. Helping buyers and sellers in the Central Toronto, North York and Thornhill areas for over 20 years.

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THE CATCH 22
Do you Buy First or Sell First?  This is a question which must be answered any time you are considering a move. There are pros and cons to each strategy and the decision should be based on understanding the current market conditions, what you are buying and what you are selling.
 
Buying First
This strategy makes sense if you are in a hot sellers market where bidding wars are common or when consistently rising home prices means you can sell your currrent home at a higher price down the road.  Buyers with specific needs may also want to consider buying before selling as the home you are looking for may be difficult to find.  The disadvantage of buying first is that your current home may not sell in the time period required and you may end of making payments on two homes or selling your home for less in order to stay within the time line. It may also be more difficult to come up with a sufficient down payement if you require the equity in yoru current home in order to buy your new home.
 
Selling First
There are definite advantages to selling first. You have clarity of your NET equity from your home that you can use to buy your next home.  You are not in a hurry to sell and can wait for the ideal offer or terms.  The disadvantage is that you are now under pressure to purchase a new home. This may be easy if you are looking at new homes or subdivisions. If you’re looking in the city this can prove to me more difficult.  You may have to arrange a double move - if you can’t find the new home in time of your own closings.
 
 
The Mulholland Ross Team will help navigate you through these questions and help you determine which options are best for you and your family.  Our clients appreciate the time we spend with them 'up front' working through all the options and ideas.  Call anytime to discuss your plans 416-230-8500