Can I buy a home without selling my home first? Yes, it may be possible to buy a home without selling your home first.
Each individuals financial situation is different. We can put you in contact with a mortgage consultant who will be able to offer you an informed opinion after reviewing your personal information prior to you making an offer on another home without a contingency dealing with the selling of your current home.
In the current market, many home owners are reluctant to start looking for homes to buy until their current home sells. Their reluctance could be due to several factors.
They may not wish to get their hopes up should they find the perfect home but are uncertain about when their current home will receive an offer.
They may feel their home, at the listed price, will not be selling anytime soon.
Or they may simply not understand that they can make an offer that is contingent upon the selling and closing of their current home.
Those sellers who have their home priced correctly should expect to receive an offer within their listing contract period. That being the case, it may be in the seller’s best interest to start looking for a home and negotiating with the owner of the home to arrive at an acceptable offer contingent upon the selling of their home. This could be handled with a first right of refusal contingency clause.
First right refusal contingencies are clauses that most real estate professionals should be familiar with and prepared to use especially in this challenging market. With a first right in place the buyer can now assume their role as a seller and take the steps needed to receive an acceptable offer on their home.
Low interest rates and low inventory are reasons to understand how to make an offer on a home even though your home has not sold.
Give me a call to discuss your situation. 407-304-0255
You may find a home for sale in DeLand online, drive by a sign or see an ad and when you call the real estate company to inquire about the home, the agent may tell you the home is pending. What does that mean?
In real estate terms a home that is pending basically means that someone has made an offer on the home that the seller has accepted. A house under contract is considered pending.
The final closing or transferring of deed from the seller to the buyer is contingent or subject to some additional term or condition. Most common contingencies are financial, inspections or the need for the buyer to sell their home prior to buying another.
Pending real estate transaction
Depending on the contract between the seller and buyer, it may be possible for another buyer to make an offer on a pending transaction which would be subject to the release of the first offer.
You should ask us or your attorney if you are not 100% clear on what is involved when making an offer on a home that is pending.
Give us a call to discuss your home buying and selling questions. 407-304-0255 or 407-765-4884
Freddie Mac has announced mortgage rates hitting under 5% this past week. Low mortgage rates could be good news for DeLand home buyers when coupled with low home prices created by short sale and bank owned inventory currently for sale.
With nearly 700 homes for sale in and around DeLand, home buyers should have no trouble finding the right home and the best price.
Give me a call to discuss a mortgage program suitable for you and to schedule a time to view available homes in the DeLand area.
Home sales increased in May over the same time period last year in DeLand. The MLS reports 70 homes selling during May, 2010 compared to 48 in May, 2009. This is good news for the DeLand real estate market and is no doubt a result of low list prices, low interest rates and the home buyer tax credit that ended on April 30th.
Terrie White of Watson Realty Corp., DeLand is offering this 4 bedroom, 2 bath home. The home has been well maintained. Features include an open floor plan, solid oak wood cabinets, double sinks, a cooking island, plant shelves, formal dining area and a breakfast nook.
The home was built in 2007 and is priced at $159,900. Please feel free to call Terrie @ 386-956-9110.
As 2010 begins there are over 60 foreclosures for sale as of this post in DeLand. These homes have been foreclosed on and are now bank owned also referred to as REO properties. They range in price from a low of just under $30,000 to a high of over $500,000!
Scattered throughout DeLand these homes offer a great opportunity for investors and home buyers simply looking for a good home at a good price. Last year 150 homes that were foreclosed on sold in DeLand. These types of listings will often receive multiple offers and include bank addendum that you need to be aware of. Call me to not only receive a list of available homes but to also schedule a time to view the ones that you are interested in.
Building a home that conserves water will translate to savings for homebuilders in DeLand. The City of DeLand will present the first rebate check for Florida Water StarSM certification to a local builder. Gallery Homes will receive a check for having a home certified to meet Florida Water StarSM requirements. more
Terrie White is pleased to present her latest listing. This DeLand home is nestled on a wood private setting of just over 1 acre. Enjoy the country without giving up the convenience of being close to the city. This 3 bedroom, 2 bath, 2 car garage home can be yours by calling Terrie White at 386-956-9110.
Here is a great opportunity to purchase this DeLand HUD home. This 3 bedroom 2 bath home is priced at $40,000. If you would like to make a bid or receive more information about buying a HUD or other homes in the DeLand area, contact me or give me a call.