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Selling/Buying with Equity - how does it work
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this is a great question .... thanks for asking it
can i jump on the bandwagon?
so if i am selling a house for 250000
buying another for 225000 with no mortgage, just buying with proceeds of sale
will i need to find a 22000 deposit before ive sold my property?
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MessedUp said:this is a great question .... thanks for asking it
can i jump on the bandwagon?
so if i am selling a house for 250000
buying another for 225000 with no mortgage, just buying with proceeds of sale
will i need to find a 22000 deposit before ive sold my property?
Nope - as explained above, you can use the deposit paid by your buyer, as the deposit for your purchase.
(Assuming you're talking about the deposit paid at exchange of contracts)1 -
thanks eddddy
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