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  • Minneapolis, MN: It’s a unique environment in real estate right now. Limited inventory of homes for sell means you’ll get top dollar selling your home, but there is plenty of fear about finding and buying your new home.
    Next, with so much competition, buying non-contingent or with cash may help you win an offer.
    Wanting to sell, but don’t know how to best navigate buying? Here are some common ways people navigate this market:
    1. SELL CONTINGENT on YOU finding a home of your choice. Accept an offer. If you don’t find a house, you don’t sell.
    2. PAY CASH. I’ve had numerous people for example take a 401k loan. Pay cash for the new home, then put the money back in your 401k once you sell the existing home.
    3. QUALIFY FOR TWO HOMES. Many people can qualify for both the new home and their existing home. After closing on the new home, you sell the existing home.
    4. RENTBACK YOUR HOUSE from your new buyer to give you time to find a home (mortgage rules generally allow 30-60 days before YOU must occupy the home)
    5. RENT SHORT-TERM, or stay with family short-term. Take your time finding your next home.
    In 2020, 31% of homebuyers were first time home buyers. That means 69% of people had a home to sell.  People do it all day everyday, and you can too.  Don’t let misinformation scare you from a new home. Despite the hype and fear, most people can very successfully sell their existing home, find a new home, and close both the same day without any issues whatsoever.
    Call me today at (651) 552-3681 to discuss what your best move will look like!  Better yet, complete the online loan application.