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Real Estate Catch 22 and Homebuying: How to Avoid Getting Stuck with Two Homes

Saturday, January 21, 2023   /   by Michael Szakos

Real Estate Catch 22 and Homebuying: How to Avoid Getting Stuck with Two Homes

Navigating the Real Estate Catch 22: How to Avoid Getting Stuck with Two Homes

A "Real Estate Catch 22" refers to a situation where a person is stuck owning two homes because they can't sell their current home before buying a new one. This can happen for various reasons, such as not being able to find a buyer for their current home or not being able to secure financing for the new home.

To avoid getting stuck in this scenario, it's important to have a clear plan in place before putting your current home on the market. This might include:

    • Having a good understanding of the current real estate market, including what similar homes are selling for in your area.

    • Making sure your home is in good condition before putting it on the market, so it will be more appealing to potential buyers.

    • Having a contingency plan in place in case your current home doesn't sell as quickly as you hoped, such as having a backup plan for temporary housing.

    • Researching financing options and having a clear understanding of how much you can afford to spend on a new home.

Additionally, you can also consult with real estate experts and financial advisor to have a better understanding of the situation and to avoid the Real Estate Catch 22 scenario.

It's also important to note that, ordering the special report "How to Avoid Getting Stuck with Two Homes" made by real estate industry experts, can provide you with more information and strategies on how to avoid this situation, and make the process of buying and selling a home more manageable.

Team Szakos
Michael Szakos
1893 Knoll Drive
Ventura, CA 93003
DRE# 01473073

Based on information from California Regional Multiple Listing Service, Inc. as of June 7, 2023. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
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