Contingent offers: welcome back, my old friends.
Back when the market was red-hot, if you brought a contingent offer to a home seller, the response was often something like, “You must be kidding me! I’m not going to consider a contingent offer!” At that time, sellers had many offers to choose from, including cash offers, meaning that people who needed to buy and sell a home at the same time were put on the backburner.
However, now that the market is more balanced (perhaps even tilted a bit towards buyers), home sellers are more open to contingent offers.
So if you’ve found yourself in the situation I described above, you actually have a very good opportunity right now. Here’s what you need to do—call me, and let’s talk about:
- How much your home will realistically sell for
- How long it will take to sell
- Homes that you’re interested in buying
- Your payment options (whether you’ve consulted with lenders about loans, or if you’re paying in cash)
- What monthly payment you’d be comfortable with
- Coordinating both the sale of your current home and the purchase of your next one
“Now that the market is more balanced, home sellers are more open to contingent offers.”
For the first time in about six or so years, contingent offers are back on the menu. If you need any help managing a dual transaction or have questions about contingent offers, don’t hesitate to reach out and call, text, or email me. Let’s talk.
