In this Sellers Market, we are seeing more Contracts with the contingency of Buyers having to sell there existing home before closing on the new one.
Why is this? Because home buyers that have a home to sell are afraid to put their home on the market because they may have a place to go.
A good option to this dilemma is to write a contingency offer. So, start looking for your new home and once you find it, write a contingency offer, that states your house has to sell before you can close on the new home.
Now, In order to get such an offer accepted by a seller, we have whats called the Buyers First Right of Refusal Document. This document gives the seller the right to continue to market their property. This lowers their risk of waiting on you to sell your home..
For the buyer, it gives you the First Right of removing your contingency if they get another offer or cancelling the contract. It can be a good option for both Buyers and Seller in this market.
The secret is to try and find a win/win for both buyer ad seller.
In the event that you are needing to relocate, upsize or wanting to downsize your home, call me and I will help you discover your best options to move forward.
First Realty Co