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
Pending means your home is under contract
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
When buying a house you may want to make sure the home has a nice kitchen, a large living room, several bedrooms and baths. There are additional rooms that we may need.
The multiple listing service allows us to search for homes in the DeLand area with additional rooms that include:
- Bonus rooms
- Family room
- Florida room
- Game room
- Inlaw apartment
- Utility room
- Media room
Make sure you find a home with all of the rooms you will need in order to enjoy your home for years to come. Call me, Greg Staker, to buy your next home. 407-304-0255
Watson Realty is here to assist you with your real estate needs!
As a real estate agent for Watson Realty Corp., we are members of an award winning relocation firm. Our company was just recognized as the best of the best of all Leading Real Estate Companies of the World real estate companies for 2016!
Give us a call, let us show you why we are diamond award winners!
Bike Week DeLand
We attended the 2017 Bike Week DeLand event this year. This was our first time attending and we really enjoyed the event. DeLand blocked off the main street through town allowing bikers to park and enjoy the shops and displays that were set up. It was fun people watching and checking out all of the cool motorcycles on display!
On Saturday a car driving north on Stone ran off the road taking out the fire hydrant at the corner of Stone and Pennsylvania before plowing through one of my neighbor’s fences and into their backyard tree. According to the neighbor the driver and passenger were not seriously hurt.