Can I buy a home without selling my home first?
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
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.
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.
Short sales are being used throughout the country by home owners who are faced with a distressed situation where they are unable to afford their home and because they owe more on their mortgage than the home is worth they are unable to sell the home for enough to pay off the mortgage along with the additional costs involved with selling a home.
What should a DeLand homeowner consider before short selling their home?
- If you would stay in the home if the payments were affordable, contact your lender about a loan modification.
- According to FICO, short selling your home impacts your credit score similar to a foreclosure however a foreclosure increases the time you will have to wait before obtaining a mortgage on another home.
If you are facing a tough situation and would like to talk about the short sale process give me a call. I can refer a top short sale real estate professional to you that will explain the process so that you are able to make an informed decision.
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
25 homes for sale in the Glenwood community priced from $99,000 up to $1.2 million. 6 houses have sold in the Glenwood community priced between $73,500 and $150,000.
To search for homes in the community of Glenwood near DeLand, you can visit this Glenwood real estate page.
NOTE: “Based on information from MFRMLS for the period (January 2009 through July 2009).”
Sales of residential property increased in June (54) compared to the same time last year (46). The number of sales in DeLand during June was also higher than the reported number of sales during May of 2009 (48). Based on information from MFRMLS for the period June 2008 through June 2009.
Property sales reported in the MLS for time periods of January 1 – April 21, 2009 for DeLand are on pace for the same time period last year. As a matter of fact, records indicate that sales are exactly on pace with 128 sales reported for the same time period in both 2008 & 2009. These reports include single family homes, condos and townhomes sold and closed in DeLand.
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There are over 800 homes currently for sale in DeLand. Home prices match every one’s budget with homes starting around $40,000 and up to over $5,000,000.
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DeLand is one of the top 10 cities for real estate bargains in Central Florida.
Those buyers looking to purchase a 3 bedroom, 2 bath home with 1200 square feet or more priced under $150,000 and been able to do so 69 times this year. And the good news is the DeLand real estate market is still rich with available bargain homes. Right now there are approximately 580 homes that are listed at $150,000 or less.
Contact me to view any of these homes.
NOTE: “Based on information from MFRMLS for the period (January 2008 through December 2008).”