To be a contingent buyer and navigate buying and selling a home at the same time, there’s a series of steps you must take.
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People often ask me, “Is it possible to be a buyer contingent upon selling a home? How would that work?”
Being a contingent buyer means that you want to buy a home, but it’s contingent upon you selling your home, and you need the process from selling your current home in order to buy your new home. How can you work through that situation successfully?
The first step is to be very clear on what your goals are. Are you moving up or sizing down? Are you moving across town or out of the area? When you first meet with your agent, you need to talk about what your goals are so you can plan appropriately.
The second step is to start prepping. Start prepping your home to sell before you’re even ready to sell. Start cleaning out areas like the attic, basement, and garage. Start getting rid of that stuff you’ve been storing for the kids that they never picked up. Prepare the home now so when it comes time to move, you’re not worried about having to sort through a big household full of things you really don’t want to move.
Using the same agency to help you buy and sell
will make your life so much easier.
Next, start looking at homes. Go ahead and see what’s on the market. Get a feel for what’s out there so you’re not stressed and worried if there’s going to be anything out there you would like once you do put your home on the market.
Most importantly, use the same agency to help you sell that is helping you buy. It’s so important to have one point of contact to help you negotiate through contracts and repairs and coordinate back-to-back closings. Using the same agency to help you buy and sell will make your life so much easier.
Lastly, plan ahead on the schedule and make sure your selling and buying dates work well together and you have plenty of time to make the move. Pick the closing dates that work best for you.
If you have any questions or you think I can help you in buying or selling your next home, give me a call. I’d be happy to speak with you.