A buyer here put a condo up for sell thinking it would sell quickly. This is a very active market. Priced it well. Then found a TH to buy, bought it, closed, moved in. Now nearly 90 days later the condo is still not sold, price reductions every 21 days, incentives. Now it's for sale and for rent.
Another price reduction coming soon.
Buyer's have certain expectations for what they want. What one person loves isn't what another loves. Features are incredibly important and so are amenities. More so that previous buyer floods.
There are buyers out there and things do sell fast when they show well, are priced right, and have all of the amenities that people want and when the condo fees are low and affordable. If they don't they sit there. And of course location is key and access to Metro and public transportation.
The below idea to do a Sellers Home of Choice (HOC) contingency is another option. That gives you an "out" of the contract with the buyer if you can't find something within X period of time.
A good listing agent can help partner with you to make this work for you.
Delaine Campbell, MBA REALTOR(R)
Van Garrett Jr.
Full Service 4.5% Listings
Ask me about Zero Down Financing options for homes under $500k and my up to $5000 cash back offer at closings!
If you can't sell you condo at the price you want but you can buy right now, you'll probably be doing yourself a favor in the long run. If you buy low (buy the townhouse now) but sell high (by holding onto the condo for a few years) you could do very well. Property managers take all the hassle out of managing a rental and the link below will tell you something about rental management.
1.Rent it. this has mortgage qualification issues, check with me or your lender.
2. Make contingent offers. (tough in this market but it can be tried)
3. Sell, rent and move to something new.
Check our website "soldonalexadnria.com? and contact us for detailed help.
Bob Hamilton, CPA
Maybe you should be realistic and patient.
It seems that newer generations are impatient, they want it all, and they want it now:
You are aware that there is a right way to do this, but you want to find a shortcut.
If you lose the Townhouse; so be it. There are other townhouses out there.
This is another reason why I do not like the HOAs that Condos and Townhouses come with; they are harder to sell or rent.
Do it right; sell the Condo, try for a long Escrow or rent for a while, and then find your townhouse.
Good luck and may God bless
1) If you do not need the proceeds of the condo sale, you may put in an offer for the TH without any contingencies
2) Put in an offer with a contingency stating you cannot close until your condo sales; if you have it listed with an agent already, this will give the seller and their agent confidence that it will sell (if it is priced right for the condition). If you're selling on your own, it will be hard for the seller and their agent to have confidence you will come through in the end.
3) Wait until your condo sells and hope the other TH is still available.
Only you can decide which method you are most comfortable with. Good luck regardless what you do!