Dreaming of buying a new home while still owning your current one? Selling your existing property before purchasing a new one is often the practical approach to managing finances. However, submitting an offer contingent on the sale of your current home requires a careful strategy to increase your chances of success. In this blog post, we’ll explore three essential tips to help you navigate the process of buying a new house with a contingent offer.

Offer Competitive Terms

Dreaming of buying a new home while still owning your current one? Selling your existing property before purchasing a new one is often the practical approach to managing finances. However, submitting an offer contingent on the sale of your current home requires a careful strategy to increase your chances of success. In this blog post, we’ll explore three essential tips to help you navigate the process of buying a new house with a contingent offer.

Offer a Competitive Price

To make your contingent offer more enticing, consider offering a competitive price. While paying over the list price is one option, you can also explore alternative strategies. For instance, you could offer to cover a portion of the seller’s closing costs or provide a larger earnest money deposit. These gestures demonstrate your seriousness and financial stability, giving sellers confidence in your ability to complete the transaction.

Seek Professional Guidance

Navigating the complexities of a home-sale contingency can be challenging. To ensure a smooth process, it is advisable to work with a real estate professional who has a proven track record of quickly selling homes. An experienced agent can offer valuable guidance, helping you craft a competitive offer and navigate the intricacies of a contingent purchase. Their expertise instills confidence in the seller, assuring them that your home will sell promptly.

Buying a new house with a contingent offer requires careful planning and strategic decision-making. By offering competitive terms, a competitive price, and leveraging the expertise of a real estate professional, you can increase your chances of success. Remember, open communication with your agent and being flexible throughout the process are key to a successful contingent offer. With the right approach and guidance, you can transition smoothly into your new home while selling your existing property.