What are my options if I found my dream house but mine hasn't sold yet?
The house of my dreams is for sale after being foreclosed on. I put my house on the market recently so we could try to get our dream house. In this market, not sure how long that will take. The dream house has been neglected and some damage from previous owners and is priced pretty low. I don't want to lose out on it, but I have no idea how quickly mine will sell. What are my options?
Robert is correct in advising that you make an offer contingent on the sale of your home. However, most REO banks will not accept an offer with a sale contingency. Your other option is to get a bridge loan and remove the contingency. Speak to a mortgage professional about the feasibility of a bridge loan.
You can place an offer contingent on the sale of your home. If your home is priced appropriately the seller may accept this contingency. It is also possible they will accept and give you "right of first refusal".
Start the conversation....you may end up with your dream home!
Robert Greenblatt
Keller Williams
856-685-1660
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