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Many people ask me, “Should I buy before I sell, or sell before I buy? How do contingencies work?” Contingencies allow a buyer to back out of a contract. For example, many people who buy before selling have to sign a contingency promising they will sell their property within a certain amount of time.
I recently sat down with this family and discussed this same thing. They were looking at very specific neighborhoods because they wanted a certain school. The way our current market is, 40% to 50% of the time you have to sell your home before you can buy.
In this particular case, we recommended they sell their home and then rent for a while, which would eliminate the contingency issue. That worked best because her search was so specific.
In most cases, a home search isn’t that specific. With great strategy and planning, you can absolutely sell your home and buy something with a contingency in place. I’ll make sure you have a strong buyer for your property so that you can close on the home of your choice.
There’s always a strategy behind buying a home first or selling first. It really just depends on what you’re looking for in the surrounding Phoenix area. If you have any questions about this topic or more, give me a call or send me an email. I would be happy to help you!
I recently sat down with this family and discussed this same thing. They were looking at very specific neighborhoods because they wanted a certain school. The way our current market is, 40% to 50% of the time you have to sell your home before you can buy.
In this particular case, we recommended they sell their home and then rent for a while, which would eliminate the contingency issue. That worked best because her search was so specific.
In most cases, a home search isn’t that specific. With great strategy and planning, you can absolutely sell your home and buy something with a contingency in place. I’ll make sure you have a strong buyer for your property so that you can close on the home of your choice.
There’s always a strategy behind buying a home first or selling first. It really just depends on what you’re looking for in the surrounding Phoenix area. If you have any questions about this topic or more, give me a call or send me an email. I would be happy to help you!
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