Tego Venturi: So Tracy, let me, let me introduce is, cause you're the, you're the expert on, of course you are the buying a home, selling a home at the same time, we get a lot of questions, especially now with the, the ultra low number of homes on the market. It's it's challenging. So how do we do that? I can't, you know, most people can't just go buy a home and still have another home that they own. They have to, you know, move that mortgage to another property. So what would you first off, what would you say to somebody that's thinking of selling, but they don't want to go through that. What would you tell them? What would be the first piece of advice? You'd give them

Tracy Venturi: First piece of advice. I would say let's not sugar coat. It it's tricky to do it. It, it almost always works out like we want, but it, it happens. What I've seen statistically Tego, and this is, you know, using that word statistics for you, statistically 71% of the people that are buying a house, a second house, a first house second house, right. They own a house and they're, they're having to do it simultaneously. They can't afford to get the mortgage for their other home, their new home without selling their current home. So, yeah, it's challenging.

Tego Venturi: The takeaway on that though, is it's a very common thing. Very common. Yeah. And of course we deal with it all the time. Obviously there's extra logistics involved, you know, trying to move out of one house. We'll try to get ready to move into another house. That's right. Know, th there there's all that, but what about the financing piece? I mean, obviously, you know, if you can't buy the home without selling your home, how does that work?

Tracy Venturi: So a lot of times people need the money from the one home to be able to close on the other. So that means you would need to sell your home first and be out of it right before you close on your new home and move into it. So there's that lag in the middle there. So it's

Tego Venturi: So I, I'm going to interrupt you. I know, I promise I won't interrupt you as of just about impossible, isn't it? Is I was gonna just say, talk about the simultaneous closing and how that works, where the title company is handling all that money,

Tracy Venturi: Right? So it's possible to close the same day on both properties. You go in the morning, you signed paperwork to sell your home. It gets funded and recorded by 11, 12. You're right after you signed to sell your home, you go right to title and they hope maybe the same company. Not always.

Tego Venturi: Well, I've seen it happen at the same time, at the same table with the same escrow. Okay.

Tracy Venturi: Now we're going to sign these forms, right? So the, the cell has to fund and record before the funds are available for the, but a lot of times we can get it to happen that same afternoon so that the sell happens in the morning. And by mid-afternoon late afternoon, the buy happens. Now. Most people, you know, that's pretty stressful. Think about I'm all packed up. I've got the kids in the dogs, in the car and I'm waiting to get the keys to my new home. And the moving truck is waiting and everything's going so there's ways we try to minimize, minimize the stress, right? We try to get preoccupied NC, or post-occupancy either post-occupancy at the house you're selling for a few days or preoccupied, NC at the home. You're buying for a few days. There's, you know, pods where you can have all of your things packed up. They hold them at the pod facility and until you're ready for them. So that the truck isn't literally waiting with your things. And, and lots of other strategies that work to help facilitate a buy and sell at the same time.

Tego Venturi: So what you're saying, there are obviously extra logistics,

Tracy Venturi: Right. And getting a house, right? So a lot of times people say, well, how do I get an offer accepted on a new home when I need to make it contingent upon selling my current,