How to Buy a House Contingent on Selling Yours
AuthorKelsey Heath. Date:
Selling your home while trying to buy a new house is a careful balancing act. There’s the fear of being “temporarily homeless.” Do you buy first and then list your home? Or do you sell your home and move into temporary housing while you search for your next property? Many don’t realize that there is a third option: buying a house contingent on selling. When looking for your next home, ask your real estate agent how to buy a house contingent on selling yours. What Does “Contingent on Selling” Mean? A contingency is a condition or provision that must be met for the real estate transaction to proceed to closing. Contingencies are included in the purchase agreement to protect the buyer and ensure certain conditions are satisfied before the sale is finalized. If the contingencies are unmet, the buyer typically has the right to back out of the contract without … Continued
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