Buying a House Contingent on Selling Yours? Here Are 5 Tips

As an existing homeowner who is ready to purchase another home, you may only be able to do so once you have sold your present home, so the purchase of your new home is contingent on you selling the home you are in. To be a successful seller and buyer at the same time, here are five strategies that can help you avoid owning two homes or having two mortgages.

1. Be intimately familiar with the contingency agreement so that you can maintain tight timelines with buyer performance on your present home. Your success in closing on a new home depends on your buyer’s ability to close on your home.

2. If you are in a seller’s market, be prepared to have your accepted offer rejected if the seller receives another offer that is not contingent. Most sellers will want you to agree to the “bump clause” that will allow them to move forward with a stronger offer if you can’t remove your house sell contingency and stay in the deal.

3. Show the seller that you are a serious contingent buyer by aggressively pricing and marketing your present home. Stage your home and increase its curb appeal for a faster sale.

4. A strong contingent offer will have a better chance of a seller being willing to negotiate a deal. Be aggressive on the offering price, and keep the terms and other contract contingencies to a minimum.

5. For expert advice and guidance, be sure to work with an experienced real estate agent who can help coordinate the simultaneous selling and buying of your home.

Contingent sales can pose many challenges, so please don’t hesitate to call upon our sales team for help. We can also help you with a backup plan in the event your home sells before you can buy another.

Make Your Life Easier with These 4 Smart Products

Smart home products that make you safer while adding value and functionality to your home will always be the favored upgrades. Check out these products that will also make your life easier.

1. At an average price of $200, WiFi-enabled video doorbells will keep you tuned in visually and audibly to the action on your front porch, all via your smartphone. You don’t even have to be home, and you have the benefit of seeing and speaking to whoever rings your bell. Video doorbells are easy to install and provide great security.

2. A great partner to the video doorbell is the smart door lock. Enter the digital world by having digital key codes for anyone you wish to be able to access your home. You can give temporary access with a smart lock and lock or unlock your door with your smartphone or voice.

3. As power grids expand and the number of households increases, so does the number of power outages. Generators for the home are becoming more popular, but not the portable ones that are noisy, need refueling and spew smelly gases. These generators look like HVAC units and run on natural gas or propane. They kick in automatically when the power goes out and are built into your home. An added incentive to have a smart generator is that it can be operated from your smartphone.

4. WiFi-enabled blinds that you can control with your voice or smartphone will help with heating and cooling costs. They also up your level of home security.