< Back to intro
|
< Back to intro |
|
 |
 |
 |
 |
 |
 |
 |
 |
| |||||||
 |
 |
Financing | Find a Home | Make Your Wish List | Steps to a Successful Purchase | Create the Offer to Purchase | Negotiate with the Seller
If you have to sell your present home before completing the purchase of a new home, the sale of your home can be a contingency of your new-home purchase contract. Sellers can be reluctant to accept this contingency, particularly in a hot market. Often a Seller will give you a specified time frame in which to get your home into escrow with a Buyer. Or else the Seller will accept a home sale contingency but will add a 3-day release clause. This means that if they get an offer from someone else, you have 3 days to either sell your home or find another way of financing the purchase. If you are unable to do this, the contract can be cancelled and the Seller can sell to the other Buyer. The safest way to deal with the need to sell your home before buying another home is to have your home in escrow before you make your Purchase Offer. If that is not possible, your home should at least be on the market. But these are not hard and fast requirements. If you have any questions about how best to deal with this issue in your own situation, please call me so we can discuss it. Next Step... Protecting Your Interests
|
