If you need assistance, please call 256-766-0000

This Is How You Win With a Home-Sale Contingency

Thursday, August 3, 2023   /   by Shane Kilby

This Is How You Win With a Home-Sale Contingency

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. Most people will have to sell their current property to have the funds to pay for the new house. However, two transactions can sometimes mean double the headache. If you're in this position, what can you do to ensure a successful home purchase?

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. If it doesn’t, you are free to walk out of the purchase agreement. However, home-sale contingencies can make your offer less attractive to sellers because it introduces uncertainty, may cause delays, and has the potential to make the deal fall through.

"Working with an experienced agent can instill confidence in the seller that your home will sell on the market."

To make your offer more appealing, 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. By demonstrating your commitment to the transaction, you can help the seller feel more comfortable waiting for your home to sell.

If you're feeling uncertain about how to navigate the process, work with a real estate professional 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.

      home buying

    BrickDriven Realty
    3505 Florence Blvd
    Florence, AL 35634

    Information is provided exclusively for consumers’ personal use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable, but is not guaranteed accurate by the MLS.
    The data relating to ValleyMLS on this Web site derive in part from the North Alabama MLS (NALMLS) IDX datashare program. © 2023 Valley MLS, Inc. All information provided is deemed reliable but is not guaranteed and should be independently verified.
    This site powered by CINC: www.cincpro.com