Yes, this will put off some buyers, but others will be willing to deal with it, if they like your home. Of course, for this to work, you have to have your eye on a property or two currently available in the market.
It's not "Realtor trickery"... it's a creative way to get you into the home of your dreams. Do you really mistrust your Realtor that much that you would think he would "trick" you into losing your home? If the answer is yes, then you need to change Realtors.
Putting your home on the market with a sellers contingency is not a big problem. There is no "trickery" I do not understand how you come up with that. It makes sense, put your home ion the market and see how it goes, you can look also.. just fdo not get too attached to anything until you get your home sold!
Sellers contingencdies happen all the time.. I have bth buyers that say.. we can find a home and wait for it if necessary and I have sellers that have sellers contingencies also... It is no "big deal" overall.
Agents that say they will not show your home because of the contingency are full of baloney, clients usually dictate the homes to see.. and if yours is out there.. they wll see it., like anything else, there are terms.. yours happens to be contingent upon your find ing suitable housing.No big deal.. list ot before you miss the first time homebuyer tax credit that will apply to buyers looking at your home. .
Nope...this isn't trickery. This is one way to make sure that the transactions all line up.
Most sellers don't want to tie themselves to a deal if it's dependant on a property sale that isn't on the market. There are just too many variables in play. You CAN go on the market with the stipulation that you first need to find a new place to purchase. If that doesn't happen, then your house isn't for sale. I've done this a few times through the years. When an offer comes in on your place, they usually build in a clause giving you a limited amount of time to purchase, or they can get out without penalty.
The upside is that you stay in control, and don't end up owning more houses than you can afford. (Actually, the mortgage company would prevent that by not issuing a mortgage commitment to buy if your current house wasn't sold). The downside is that some potential buyers for your house might not be interested in waiting for you to find something else. This could limit your buyer pool.
Hope this helps. Good Luck!
Do you really feel that you would "walk away", if I told you that my clients have two homes currently on the market that they want to buy... we need a maximum of 5 days to put one of those under contract (we might be able to accomplish it sooner), before we can consider your contract "ratified"... but we've agreed on a price?
I look really confused, wonder why you really do not want to sell and walk away looking for another option.
You can do anything you want. Someone may not mind. When I want to buy I do not want anything in the way. I want my buyers bribe too you know. SInce this might not happen and time is tight to get the free $8k I do not have time to play with you.
Put it up for sale. Pack your stuff away. Be prepared to rent for awhile until you can buy what you want. That way you tell me ok, will sell, can move out tomorrow. I am happy. I like your house. I will buy, you can take that money and buy your own.
Why sweat renting a short time when it could solve a potential problem?
I know as a listing agent that a lot of buyers agents show their clients homes for sale before they put their house on the market to motivate them to get their home on the market. The safest thing for you to do is to list your home for sale at an attractive saleable price without contingencies to find a home. It is okay to still look just don't commit to any one home until you get a sold offer. Then you can come in with an offer on a house that you like & appear as a stronger buyer & negotiate your closing date with both. You should will still have a contingency on the contract of the home you are buying protecting you that states the closing is contingent on the closing of your present home. With the start of the Spring market more homes will be listed & there will be plenty of homes out there for you to choose from when you are ready
You either are on the market to sell your home or you are not. Putting your home on the market with a contingency like that will scare away most buyers and agents. If I was working with a buyer in your area, your home would go to the bottom of the list and would probably not be shown. Less showings ultimately equals a lower price.
If you are picky on the buy side, just reconcile yourself to the fact that you might have to rent while waiting for a suitable home. Then sell your home with no reservations and no delays. You can put all your stuff in storage and live light in temporary housing until the right house comes along.
Listing your house "subject to the buyer finding a suitable home" is like not being on the market at all, and buyers and buyers agents will treat your home that way if you list it like that.
Century 21 Joe Tekula Realtors
Phone (direct): (973) 584-4235
Denise Gueterman Weichert Realtors 142 Main Street Chester, NJ 07930
908-303-2472 Cell 908-879-7010 Office 908-879-7010 firstname.lastname@example.org