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Have you or anyone you know in Temple ever thought about what goes into buying a home and selling a home at the same time? It’s not as simple as it sounds.
It’s one of the most common questions we receive. Can you look for houses first before putting your current home on the market, so you can know where you’re moving before putting your house up for sale? Is this a good strategy?
If you’re going to look for a new house first, you will typically put in a contingency offer, meaning, the offer you put in is contingent on you being able to sell your home. As a seller and a listing agent, I can tell you that most sellers aren’t very excited about getting these contingent offers, strictly for the reason that the deal might not work out. But you can make the offer more attractive.
As a buyer, you likely need to be more aggressive with your offer if you have contingencies. You probably need to make a higher offer to make the seller willing to take that house off the market for you.
Once the buyer has found the house they love, the motivation to sell their house is extremely high. As time drags on and the possibility of losing their dream home becomes more real, typically the motivation increases. This usually entails accepting a lower offer or lowering the price.
With a contingency offer in this case, the family might be paying more for the home they want (to make their offer more attractive) and accepting a lower offer on their old home (because of increased motivation to sell). That can cost you a lot of money! Too many times you also see buyers get their hearts broken even with an aggressive offer due to contingencies.
So what’s the best way to do it? Let’s get it on the market and get a good price first, then we can negotiate enough time for us to find a house that works great for you.
If you have any questions on this topic, please reach out to me via phone or email. I’d be happy to help!
It’s one of the most common questions we receive. Can you look for houses first before putting your current home on the market, so you can know where you’re moving before putting your house up for sale? Is this a good strategy?
If you’re going to look for a new house first, you will typically put in a contingency offer, meaning, the offer you put in is contingent on you being able to sell your home. As a seller and a listing agent, I can tell you that most sellers aren’t very excited about getting these contingent offers, strictly for the reason that the deal might not work out. But you can make the offer more attractive.
As a buyer, you likely need to be more aggressive with your offer if you have contingencies. You probably need to make a higher offer to make the seller willing to take that house off the market for you.
With a contingency offer in this case, the family might be paying more for the home they want (to make their offer more attractive) and accepting a lower offer on their old home (because of increased motivation to sell). That can cost you a lot of money! Too many times you also see buyers get their hearts broken even with an aggressive offer due to contingencies.
So what’s the best way to do it? Let’s get it on the market and get a good price first, then we can negotiate enough time for us to find a house that works great for you.
If you have any questions on this topic, please reach out to me via phone or email. I’d be happy to help!
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