can some please tell what this means? " Sale Is Contingent Upon Seller… Show more Finding Suitable Housing." I found it on a mls#349086

Asked by Beth, Blue Point, NY Tue Feb 2, 2010

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Brigita McKe…, Agent, Stroudsburg, PA
Wed Feb 3, 2010
Good morning, Beth!

I have done several transactions where the sale is contingent upon seller finding suitable housing. All this means that the buyer needs to give enough time for the seller to find suitable housing before settling on the home. Usually it is 60 days. Some sellers do not feel comfortable looking for a place and getting their hopes up unless they know that their current home is under contract.

What if they found a home before their home was under contract, but were unable to purchase it and anothe buyer came along and bought it. The seller would feel awful about it. With the current market being what it is, some sellers feel more comfortable actually looking for a home after their current home is under contract.

How would you feel if you sold a home and had no place to move to?

Brigita

Brigita McKelvie, REALTOR, e-PRO, GRI
Pennsylvania License #RS297130
Keller Williams Real Estate, Bethlehem, PA
Office: 610-867-8888 Direct: 610-393-9424
Mailto:brigita@brigitamklv.com
Web: http://www.brigitamklv.com
Blogsite: http://activerain.com/blogs/brigitam
0 votes
Sean LaSalle, Agent, Macungie, PA
Tue Feb 2, 2010
Beth,

Moriah's answer is correct. Sometimes the seller will ask to do a lease back. But most cases they are actively looking for a home. Typically on something like this, depending on the situation, we will give them 60 days to settle instead of 30-45.
0 votes
Heather Mori…, Agent, Allentown, PA
Tue Feb 2, 2010
Hello Beth!

This is just a warning that the seller needs to find a home to live BEFORE they close on their current home. This is just so the seller can feel comfortable about not being pushed out of their home. Typically this can be worked out between the buyer and the seller. The best thing to do is have your Buyer Agent contact the Seller's Agent and find out what the current situation of the seller finding a home is. Many times this information is outdated and the seller has already found a home and has made an offer conditioned on their home selling.

If you are interested in more Home Buying Education specifically for buying a Home in the Lehigh Valley visit the site below.
0 votes
Dianne Hicks, Agent, Rancho Bernardo, CA
Tue Feb 2, 2010
Beth
Wording is a little ackward, The Sale of the home has a condition that must be met. For instance, they will sell their home if they find another home that they like and they can purchase.
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