What Is a Home Sale Contingency?
A home sale contingency protects the repeat homebuyer. But at what cost? We’ll look at the benefits vs. the risks, and help you structure a home sale contingency offer that works.
According to recent data from the National Association of Realtors, 76% of homebuyers are repeat owners, the highest percentage on record. That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. After all, few people can afford to hold two mortgages.
At the same time, it usually does not make sense for buyers to sell their home without having a new one lined up to move into. So what options does that leave for the homebuyer who must also be a home seller?
Find a Top Agent With Experience in Home Sale Contingency Offers
If you are considering a home sale contingency, you’ll want a top agent by your side when you make the offer. We analyze over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs.
Most often, this type of scenario calls for a home sale contingency. With the help of real estate agent Jesse Allen, a single-family home expert in southern Indiana, we’ll help to explain the ins and outs of home sale contingencies, and offer additional alternatives for buyers who currently own a home.
