Buying and Selling With Contingencies
by: Jeff Quintin, on July 18, 2017 - Home Buyer Tips Home Seller Tips Uncategorized
Buying and selling at the same time is tricky. Here are a few solutions that we recommend.
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Most people have to be buyers and sellers at the same time because they don’t want to have to find temporary living or they can’t afford two mortgages at once. This happens all the time, but the situation gets especially tricky in a low inventory market like ours. Here’s a few options we have for balancing the transactions out.
The first thing we can do is get the home on the market for sale and make the sale contingent on you making a purchase. We’ll blast the home out there to our entire network of real estate agents and brokers to show to their buyers. Once you get an offer and accept it, we will then need to work quickly to find a home and get that offer accepted. This method can be tricky in a seller’s market like the one we are in because your buyer might get anxious if you can’t find a home quickly enough.
It’s all about timing in this market.
There is another option. You can start by buying a home first and making a contingent offer on the home until your home sells. There is some risk here as well but not as much because homes are selling quickly, usually within 30 days. This makes it easier for sellers to accept contingent offers.
It’s all about timing in this market. We’d love to help you line everything up perfectly. If you have any questions for me or you’re looking to buy and sell at the same time, I’d love to help. Just give me a call or send me an email today.