Lagniappe Living in Lake Charles, Louisiana: May 2012

Buying and Selling a Lake Charles LA Home at the Same Time


Many times Lake Charles Real Estate transactions will have contingencies attached to the offer.  Most of the time a repeat home buyer will need to sell their current home in order to purchase another, so the Contingency Addendum will apply to the purchase contract.  It is possible to buy a home and sell your home at the same time and the Realtors and loan officer involved in the client’s home sell and/or new purchase try to coordinate the closing dates.  All that is usually needed to remove the contingency is a copy of the HUD settlement statement from the previous home sale.  A Seller and Buyer can close on the sale of their home in the morning and close on their sale of the new home soon after, within the same day.  YES it can be done if all the pieces come together!


Some of the questions that arise when buying and selling at the same time are;


  • Should you get an offer on your home before you try to find a new place to buy?
  •  Or should you find the home you want before putting yours on the market?
  • Do you have a place to go should your home sell before you close on your new home purchase?


Before you begin, think through the scenarios and have a well thought-out plan, a good Realtor on your team and have all of your ducks in a row in advance.


Here are  some tips to get you started:


1. Know your financial situation. This is a no brainer. You need to know not only what you can afford to buy, but also, what your house is worth before you even get started. Talk to your real estate agent and consult a mortgage banker or broker for pre loan approval and a market analysis of your Lake Charles home.


2. Start packing. Start boxing up stuff you don’t need easy access to. Get rid of all the things you won’t need until you’ve moved into your new home. This will help make your home show better and starting the packing process now will make it that much easier to move later. You may need to rent a storage unit temporarily for your stuff.


3. Do whatever quick fixes you need to do to sell your home. Do you have a toilet that constantly runs? Is your kitchen right out of the 1950s? If so, get busy fixing those things that could cause your home to sit on the market longer than necessary or affect your home’s value.


4. Start home shopping and reviewing the Lake Charles real estate market. Start going to open houses and seeing what’s out there.


5. When you’re ready, list it. List your home as soon as possible and consider the busy real estate season of summer months when your home will attract more buyers.


What are your options and what can you expect in the buy/sell  process;  You might find a home you love before you’ve got a firm offer on your house. In that situation, you could make the seller an offer with a contingency that your offer is subject to the sale of your home.


On the other hand, let’s say you’re the seller and someone has made a solid offer on your home. Great. But you haven’t found your next home yet. Here, you might ask the buyer to let you stay in your home for a month or more as a renter, while you continue your house search.

Each buy/sell situation will have variables and specifics, and  depending on your circumstances will have to be evaluated.    The main thing is to do as much of the buying and selling homework as you can up front and rely on your Realtor for advice



For more information on Lake Charles Real Estate, visit my website.  You can search homes for sale in Lake Charles, Louisiana,  and view up to date information on Lake Charles Subdivisions, Neighborhoods

Find Lake Charles Realtor Marilyn Boudreaux Century 21 Mike D. Bono & Co.'s on Google+

If you are planning a move to or from the Lake Charles, LA area, I can help!   I am a full time Realtor licensed by the Louisiana Real Estate Commission and am affiliated with:

Century 21 Mike D. Bono & Co.'s

4410 Nelson Road, Lake Charles, LA, 70605 USA

337-478-1578 or 337-499-9592

CENTURY 21® is a registered trademark owned by Century 21 Real Estate LLC. An Equal Opportunity Company. Equal housing Opportunity. Each office is independently owned and operated.  The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments are not warranted or implied representation of it's accuracy,  All information is copywritten and the property of the Author, Marilyn Boudreaux.  


Follow me on Facebook

Marilyn Boudreaux Century 21


Google ME


 Marilyn Boudreaux Copyright 2012


Comment balloon 1 commentMarilyn Boudreaux • May 30 2012 09:13PM
Buying and Selling a Lake Charles LA Home at the Same Time
Many times Lake Charles Real Estate transactions will have contingencies attached to the offer. Most of the time a repeat home buyer will need to sell their current home in order to purchase another, so the Contingency Addendum will… more
Southwest Louisiana Pays Attention to Hurricane Season
Hurricane season will officially begin this Friday June 1. It is that time of year when Southwest Louisiana residents start paying more attention to those pesky storms that form in the Atlantic or the Gulf of Mexico. I even noticed a new… more
Avenue of Flags, Memorial Day Tradtion in Lake Charles LA
Memorial Day is Celebrated with the Avenue of Flags at Orange Cemetary in Lake Charles, Louisiana Each year on Memorial Day many volunteers along with troops of Boy Scouts work tirelessly to display large casket flags in what has… more
Flags are a symbol of Memorial Day
Flags are out in Canal Place Subdivision in Lake Charles LA Memorial Day weekend historically marks what begins a summer vacation for school kids and teachers. Memorial Day is a weekend set aside to remember those who have left… more
Lake Charles LA Market Trends and Positive Growth
Lake Charles Real Estate Update in Share I recently attended the Southwest Louisiana Board of Realtors May luncheon. Local Realtors were updated on the trends and… more
Lake Charles $120, 000 Homes For First Time Home Buyers
4402 Pleasant Drive Lake Charles LA SOLD in Share Homes for Sale in Lake Charles in the South area under $120, 000 are rare and can go fast Real Estate in Lake Charles is… more
Westlake LA Home SOLD- 100% Financing is Awesome
139 Maddox Westlake LA SOLD Westlake LA has become a household word during this American Idol season. Westlake, LA is home of American Idol contestant Joshua Ledet who has put Westlake, LA on the map for viewers nationwide. .. more
Concert Series Returns to L'Auberge in Lake Charles May 24th
What used to be called Party by the Pool held at L'Auberge Casino in Lake Charles is now called Liquid Society which takes place every Thursday at L'Auberge in Lake Charles beginning May 24th - August 30th 2012 LIQUID SOCIETY… more
Before Making That Low Ball Offer Consider Reality
Once a Buyer has found the Lake Charles Home for Sale they want to purchase, its time to make the Offer. Be cautious when contemplating a low ball offer. Most Lake Charles home buyers are asking for closing costs, take this into… more
2708 Timber SOLD in South Lake Charles, LA
JUST SOLD 2708 TIMBER South Lake Charles has many older homes that offer spacious living with remodeled features and updates. This home located at 2708 Timber is just off Prien Lake Road and less than 1 mile away from Prien Lake Park … more