Three Ways To Make A Contingent Offer


Three Ways To Make A Contingent Offer
By Scott Rogers • November 10, 2020
If you have to sell your current home in order to buy a new home - there are (at least) three ways to do that... Make an offer before your home is listed for sale. Make an offer after your home is listed for sale but before it is under contract. Make an offer after your home is listed for sale and after it is under contract. If you're making an offer on a new-ish listing then Option 1 and Option 2 are not likely to be successful strategies to securing a contract on the house you want to buy. The best bet is to wait until you have your house listed for sale AND under contract - Option 3 - because at that point your have positioned yourself (and your home sale contingency) as best as you possibly can from the seller's perspective. A few additional, related, notes... Making an offer with Option 1 or Option 2 will give leverage to the seller to circle back around to other possibly interested buyers to see if they want to make an offer. If any of those other buyers do not have a home to sell, then your contingent offer will have then served as a means by which the seller is able to find another buyer (not you) to buy their house. Thus, the value of Option 3. Even if you go with Option 3- and you are making an offer on a house once your house is under contract - you may not be able to fully complete with another offer that does not have that same contingency. A seller will, reasonably, lean towards an offer without a home sale contingency - even if the home that you need to sell is already under contract. It might depend on who you ask, but in my book Option 2 (listed but not under contract) is much closer to Option 1 (not listed) than it is to Option 3 (listed, under contract). Selling and buying simultaneously can be tricky, complicated and frustrating -- but it is possible! Feel free to be in touch if you want to talk through the options outlined above as they pertain to your situation. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
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 Nov 22, 2024 (unless otherwise noted).
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