20 Oct Can you buy contingent on selling your home?

Can you buy contingent on selling your home?

Over the last two years with it being such a seller’s market there was little or no chance any seller would look at an offer contingent upon the buyer selling their home. Now, with the increase in interest rates and less buyers in the market things are changing. We are seeing increased price reductions and days on the market increased. Are we still seeing multiple offers on a great home? Sure, we are but we are also seeing the market change in most areas to a more neutral, historically normal real estate market. Our current market is continuing to change and the likelihood of a seller willing to consider a contingent offer has increased.

 

What are elements of a contingent offer you should consider

· Length of time for the buyer to sell his home and then close on the home they have a contingent offer on. Be realistic with your timeline from the start or it can add pressure, anxiety, and cause failure.

· In the contract have at least 3 days to perform on your contingency (having an offer on your home you are selling) if the seller receives an acceptable non-contingent offer.

· Be prepared to get your home on the market right away if you have a contingent offer accepted.

· Pick an agent to sell your home that has a comprehensive marketing plan, so you get the outcome you need.

I hope you found my blog on “Can you buy contingent on selling your home?” helpful. Look for more blogs on all aspects of Minnesota, real estate, and the world around us.

 

Just call, text, or email me with questions.

 

Jeff Anderson

The Anderson Team

www.mnrealestate.com

RE/MAX RESULTS

612-386-8600