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In the real estate market, not everyone has the luxury of buying a house with cash. This poses a challenge for homeowners who wish to sell their current property while making a contingent offer on their next home. Today, we’re exploring three essential tips for sellers and buyers navigating the process of selling with a contingency. By understanding these strategies, you can increase your chances of success and secure your dream home.
1. Offer better terms. When writing a contingent offer, it’s crucial to recognize that you are asking the seller for a favor: waiting for you to sell your house before finalizing their own sale. Enhancing the terms of your offer can significantly impact its attractiveness to the seller. You can improve terms with your contingency period, appraisals, closing timeline, and more.
2. Offer a better price. While a competitive purchase price is crucial, it’s also important to look beyond that. Explore other ways to make your offer stand out. You could consider paying for a portion or all of the seller’s closing costs. This gesture can make your offer more appealing and reduce the financial burden on the seller. Also, offering a higher earnest money deposit demonstrates your seriousness and commitment to the transaction. It provides assurance to the seller and boosts their confidence in accepting your offer.
3. Work with a trusted agent. Navigating the complexities of selling with a contingency requires expertise and guidance from a trusted real estate agent. A skilled agent will have the necessary experience and relationships to ensure a smooth process. They will communicate effectively with the listing agent to understand the seller’s priorities and preferences, enabling you to craft the strongest offer possible.
Selling a home with a contingency can be a viable option for homeowners looking to make a move. By implementing these three key tips, you can increase your chances of success in today’s competitive market. If you’re ready to make a move with confidence, reach out to our team for expert guidance and support. Call or email us anytime, as we would be happy to hear from you.
