What should I do if I need to sell my home in order to buy a new one?

If you want to start shopping for a home and you have not sold your existing home there are several options to consider. Which option to choose is based on the particular circumstances and we are always available to help you choose the best option to meet your needs. If you were to locate a home for sale and you still owned your current home, your Buyer’s Agent at pinalcountyagents.com could help negotiate what is called a "home sale contingency" clause with the seller. This makes the new purchase contingent upon the sale of your current residence and if your current residence does not sell in a specified period of time, you may either back out with no penalty or ask for an extension.

There are several things that the Seller will consider when deciding whether to accept such a clause. One, you have the task of convincing the Seller and the Seller’s Agent that your house can sell at the disclosed price in a timely manner and the representation that you have is competent and dependable enough to get the job done (providing a CMA, pricing it competitively, emphasizing its special features etc). If a Seller thinks that another Buyer will surely come along in a few weeks or less, they may not elect to accept the contingency, however, if that home is taking time to sell, the Seller may look at it as a great opportunity to come to terms on an acceptable price and lock the purchase agreement in while you the Buyer are willing to make the commitment to buy.

Some Sellers in high demand areas can sell their home first and ask that the Buyer wait until the Seller finds their home of choice first and then go to closing. Once again, it is good representation that can make a world of difference and convenience.