is option to buy possible. I need to sell my home first?

Asked by jandjmac, Spring Hill, FL Sun Apr 8, 2012

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Gerard Carney, Agent, Spring Hill, FL
Wed Apr 11, 2012
Remember that you are paying for an option and not for an actual sale.
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Carol Perdew, Agent, Manteca, CA
Sun Apr 8, 2012

An option you have is to get your home sold at which time you will be in a position to write a contingent offer on homes for sale. The only drawback is bank owned homes and short sales will not accept a contingent offers. You will have to look at traditional sellers who may be willing to work with contingent offer. The better qualified your buyer is will help to convince a seller to take the risk of accepting a contingent sale.

Carol Perdew
Prudential California Realty
(209) 239-7979
DRE 985176
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Don Tepper, Agent, Burke, VA
Sun Apr 8, 2012
Yes, but a better approach is simply to make an offer contingent on the sale of your current home. Or, ideally, put your house on the market. When you get a solid contract, then start looking for a house to buy.
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Tim Moore, Agent, Kitty Hawk, NC
Sun Apr 8, 2012
You will find buying with an option to buy is difficult to find these days. There are many many disadvantages to you, the buyer, and only a few advantages that don't outweigh the disadvantages. Sell your house and rent until you are able to buy. The option to buy is a train wreck waiting to happen, so let it happen to someone else.
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