Navigating the Complexities of Contingencies

Navigating the Complexities of Contingencies

Tips to help you buy your dream home contingent on selling your old house.

Do you already own a home but want to buy a new one? Unfortunately, not everyone has the money to keep two homes and pay both mortgages. One option that you have is to include a home-sale contingency clause in your offer. This means you will only buy the new home if your current one sells. However, home-sale contingencies can make your offer less attractive to sellers. That’s why today, I’m sharing three things you can do to make your contingent offer as attractive as possible:

1. Make your offer as appealing as possible. Consider presenting a competitive purchase price or better terms. You need to work to make your offer worth their while. You could cover some of the seller’s closing costs, or provide a larger earnest money deposit. You can also offer to close early or late, depending on the seller’s needs. By demonstrating your commitment to the transaction, you can help the seller feel more comfortable waiting for your home to sell.

2. Offer the best price you can. Price isn’t everything, but it certainly helps. Don’t try to offer less money upfront to help with negotiations; instead, put your best price forward so that your offer stands out from among the crowd.

3. Work with an experienced real estate professional. Preferably, choose someone who has a proven track record of quickly selling homes. They can guide you through the complexities of a home-sale contingency and offer valuable advice on how to make a competitive offer. In addition, working with an experienced agent can help instill confidence in the seller that your home will sell on the market.

Buying a house contingent on selling yours can be a challenging experience, but with the right strategy and support, it can also be successful. For more tips on how you can confidently navigate this real estate move, call or email me. I’d love to connect with you.

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