131: Buying A House When You Own A House

Jun 16

you get a house.
you get a house.
You get a house

Have you asked yourself how do you buy a house if you own one? Well let’s talk about that. Right now if you own a house and are thinking of buying elsewhere… well NOW is the time!

Equity is where you have money IN the house you own. For example: you owe 400k on your home but the house is worth 800k —> you have about 400k in equity.

Here are some steps to take during a process like this:
1. Get pre-approved — YES.. this is one of the biggest and most important steps you can do.
2. ASK questions
3. KNOW your numbers
- Know how much you owe
- Know how much your new payment will be
- know how much equity you will net from the sale of the other property
- Know what the property taxes and insurance will look like

A few things to remember

-In this process you have to close concurrent ( Which is at the same time) and then the purchase of the home will close the next day.

At Real Estate Resolved -> We want to help you build your real estate goals

Tune into episode 131 to hear all the details of what it takes to buy a house when you own a house.

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See You next week for a new episode!

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