When To Make An Offer On Your Dream Home If You Also Need To Sell Your House

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When To Make An Offer On Your Dream Home If You Also Need To Sell Your House
By Scott Rogers • September 25, 2019 Filed In: buying, selling
In summary - not yet. If you need to sell your house in order to buy a new house -- and if your house is not already under contract -- then even if you find your DREAM HOME -- resist the temptation -- do not make an offer yet! If you make an offer on a house with a home sale contingency without your house already being under contract... the seller is not likely to negotiate much on price the seller may simply reject the offer and tell you to come back when your current house is under contract the seller will likely use your offer against you -- notifying other showing agents that an offer exists to try to get an alternative buyer off the fence to make an offer that may not include a home sale contingency even if the seller accepts the offer with the home sale contingency, they will almost certainly include a "kickout clause" which will allow them to move along to another buyer if the other buyer does not have a home to sell So -- if you view your dream home and you are ready to make an offer but have to sell in order to buy -- don't make the offer yet -- instead... prepare your house to get it on the market list your house for sale get your house under contract then, make the offer on your dream home, contingent on the settlement of the sale of your house which is already under contract This may sound/seem difficulty or slow or risky or uncertain -- welcome to the world of trying to sell and buy at the same time! :-) But it can be done and I regularly help folks with this. All of the advice above is generalized -- if you are in a situation where you want to buy but you have to sell -- let's chat more specifically about your situation and develop a game plan. Receive updates from HarrisonburgHousingToday.com via e-mail: Enter your e-mail address: Recent Articles: Rockingham County Considers Purchase of 27 Acres Between Barrington, Lakewood for Stormwater Management Purposes Sales Activity Was Slowing For Two Months But Has Picked Back Up Again Home Buyers In 2020 Are Locking In Ridiculously Low Mortgage Interest Rates This Could Be A Good Time To Sell A Townhouse Under $200K, Built Since 2000, In The City of Harrisonburg Renting or Buying A Home Within A 5 Year Time Horizon What To Expect For The Second Half Of The Year In Our Local Real Estate Market Contracts Shoot Skyward In June, Sort Of Like Fireworks Which Terms Are Usually Most Important To Home Sellers When Receiving Multiple Offers? Detached Homes Under $250K In The City of Harrisonburg Are A Hot Commodity Rockingham County Approves Stormwater Fee for Properties In Lake Shenandoah Watershed
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Jul 14, 2020 (unless otherwise noted).
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