In a fast moving market, you must be organized. There are certain steps you must take to ensure there are no unexpected surprises to spoil your plans.
First, get pre-approved by your lender. Get your current hame appraised or ask your realtor to give you a comparative market evaluation. If you don't have anyone specific in mind we can refer you to the top lenders & brokers in town who will give you the best rates, terms & conditions for you. Are you aware that CMHC now offers a 35 year amortization through certain lenders? Second homes such as recreational properties may now also be CMHC insured with as little as 10% down compared to what used to be a minumum of 35% down for the cabin by the lake.
Secondly, organize your team. Your realtor, lenders, home inspectors, accountants, lawyers/notaries, handyman, etc. You may need to call on any one of these advisors at any time to act quickly.
Rely on your realtor to help you stage your home if you are selling. All the little things you have put off since last Spring need to be addressed. Go through your home with a buyers eyes. What do you need to touch up or fix. Paint, re-carpet? Presentation makes a world of difference.
Then, of course, there's the age old question.....buy first or sell first? There are pros & cons to both scenarios. Let us help you decide what works best for you.