I own my house but I have a small equity loan against it. I’m ready to move and my house is on the market (been on the market for a month, no bids). I’ve found a house I want to buy. Is it best to wait till my house sells (so I can pay off the equity loan) or can I go ahead and buy now? I figured selling my house would also allow me down payment money. The new house would be the first house I’ve ever bought. I inherited the house I own now. Need more room. I’m in excellent standings with who I have the equity loan with (countrywide), so I’m sure I could get a mortgage for the new house with them. Just not trying to have an outrageous mortgage payment. I’m in Georgia. Thanks in advance for any advice!!
I am selling my current home through a realtor. Should I lower my asking price to possibly get the sell over with?? I don’t want to rent my current home b/c it is serious need of repairs. Developers/investors have been buyin in my area and demolishing the old homes and building new homes as 2 family rentals. So I know there is a strong possibility my current house will be demo’d…therefore renting is out of the question.

Thanks for the answers!!! I ‘preciate it!