This Is How You Win With a Home-Sale Contingency

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

If you already own a home but want to buy a new one, you may need to sell your current property to have the funds for the new house. To ensure your offer gets accepted when you need to submit an offer contingent on the sale of your old home, here are some tips:

1. Offer competitive terms. This will make your offer more attractive to home sellers. Work with your agent to offer terms that stand out, such as a quick closing period or a shortened inspection. Providing what the sellers want can increase the chances of them accepting your contingent offer.

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

2. Offer a competitive price. If you don't want to pay over the list price, you can consider covering some of the seller's closing costs or providing a larger earnest money deposit. Pre-inspecting the home and making your offer without an inspection contingency can also demonstrate your commitment to the transaction.

3. Explore companies like Homeward. These companies allow you to buy a new home without selling your current home first. Although this option comes with additional fees, it enables you to make a cash offer on the new home. Negotiating a lower price may help cover the fees you'll pay to Homeward. Additionally, these companies typically provide up to six months for you to sell your home, reducing the stress of trying to close both deals simultaneously.

If you're still unsure about navigating the process, consider working 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 provide valuable advice on making a competitive offer. Remember, working with a real estate professional can instill confidence in the seller that your home will sell on the market. For more tips on how you can confidently navigate this real estate move, call or email me. I’d love to connect with you.