How to avoid making a contingent offer on a home

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It was supposed to be a momentous occasion for Brian, who was about to close on his first home. But after signing. a conflict of interest. When you make your offer, make sure the seller is aware.

Buyers can avoid owning two homes and holding two mortgages at one time while waiting for their own home to sell. A home sale contingency can also make for a seamless transaction: the buyer can.

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Find a home you’d like to make an offer on and tell your agent right away. Your real estate agent will contact the seller’s listing agent to make sure they are still accepting offers, see if there are any other offers on the table, and get information about the seller.

However, since you also have to protect your interests when making an offer, you should include a few key conditions known as contingencies. These protect you from having to buy the home if certain circumstances aren’t met. For example, a loan contingency gives you a specific amount of time to obtain mortgage approval.

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A contingent offer is often the answer to buying and selling at the same time. Making an offer to buy a home when your own home is not yet sold is a dilemma for many home buyers. Regardless of whether it’s a buyer’s market or a seller’s market, sellers aren’t too eager to accept an offer that is contingent upon the sale of a buyer’s home.

Unless you are in a rare position where you can buy the one home without needing the proceeds of your current home, you’ll need to make an offer contingent on you selling your home. We are currently in what you call a "buyer’s market". That is in most areas, the home inventory is over 6 months.

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6 ways to improve your odds with a contingent sale offer. JOIN SELECT. One strategy that can work in your favor is to list your home for sale before you present an offer on the home you want to.