Moving-Up and Downsizing

How do you sell your home to buy another property without having two mortgages at the same time or becoming temporarily homeless?

The short answer is by carefully utilizing a contract called the Contingency For Sale or Purchase of Other Properties. Let us know if you would like to know more about how we use this form to protect our clients from the risk of two home loans at the same time or temporary homelessness.

MOVING UP

Move-up buyers are those who own a home but are ready for more space or a new neighborhood. This can be a much different and more complicated scenario than buying for the first time or buying investments. Move up buyers face a different set of challenges, such as having the contingency to sell or rent their existing home first. In essence, you are now chaining together multiple transactions requiring exceptional care and service from your Realtor team.

Radiant Property Group has the experience in successfully navigating the move-up process. You will have the peace of mind knowing that the best team is looking after every detail and examining any way we can to get you the most value from both your existing sale and your new purchase.

Contact us today so we can begin strategizing the best way to help you make this exciting transition!

DOWNSIZING

In the past, the majority of our clients who were downsizing were typically those who were retiring. Nowadays, downsizing has been a trend not only with those who are retiring, but also with cost conscious consumers in this down economy. Either way, the Radiant team has the experience to help reduce the stress of this transition as we handle all the details to successfully complete the process.

If you or your spouse are age 55+, you may be able to take advantage of California Propositions 60 & 90 to receive property tax relief by transferring your property’s tax base from an existing residence to a replacement residence. Typically the property tax of a newly purchased residence is based on its current market value upon change of ownership. However, Propositions 60 and 90 may result in substantial tax savings since it allows the adjusted base year value of the original (sold) property to be transferred to the newly purchased home if eligibility requirements are met.

Call us to find out if you qualify for this tax savings.

Contact Us Today