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Should We Wait to List Our
Current Home
until We Find Our Next Home?
That certainly makes the
most sense, doesn’t it? However, if you eventually make an offer on
another seller’s property that is based (contingent) upon selling your house
later, you will most likely have to pay top dollar to satisfy the uncertain
sellers. After all, you’ll be putting them in the same position that
you are trying to avoid yourself!
In addition, such an
offer would include a bump clause, allowing the sellers to cancel
your offer when another, more attractive offer comes along. Also, you
run the risk of owning two homes with two mortgages, which could create the
need for you to sell your current home under financial pressure.
The most important
reason to list your house now is that you could have the buying strength of
an offer without contingencies. Also, in today’s active market,
REALTORS® are usually able to coordinate the sale of your house with the
purchase of your next home.
Should you receive an
offer on your house before you are able to find another suitable home for
yourself, we can write a clause into the contract that allows you a
reasonable period of time to find the home you want. If that fails, it
is possible to arrange to void the offer on your current house.
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