Understanding Contingent Offers

A contingent offer is when you want to buy a new home but need to wait for your current one to sell first. It sounds practical, right? Well, not for everyone.

For Sellers:

Selling your home? Waiting for a buyer's home to sell can be stressful. But there's a way to make your offer more appealing. If you have at least 30% equity in your current home, you can make your offer "non-contingent." This means you don't have to wait for your old home to sell before you move forward with your new one. This makes your offer stronger and can attract more buyers, making your sale smoother.

For First-Time Homebuyers:

If you're looking to buy your first home, you need to understand the game of "contingent offers." It means you can only buy your new home after your current one sells. However, there's a catch. Sellers often prefer non-contingent offers. But here's how you can level the playing field: If you have at least 30% equity in your current home, you can make a non-contingent offer. This makes your offer more attractive to sellers, helping you secure your dream home faster.

Get Expert Advice:

No matter where you stand, real estate professionals can guide you through the process. They can give you personalized advice, do the math, and help you make your real estate journey as smooth as possible.

Conclusion:

In the world of real estate, understanding the power of non-contingent offers can make a big difference, whether you're selling your current home or aiming to buy your first one. Connect with the experts to get the right guidance and enjoy a successful real estate experience without the wait.