I met with a couple last night whose family is growing, and they need to sell their current home in order to buy a larger one. This got me thinking about contingencies and how they affect your strength as a move-up buyer.
If you’re in a similar situation and you need to sell your existing home in order to finance your next home purchase, I have a suggestion that will make this process easier for you.
Put your existing home on the market, get an offer on it, and then start searching for your next home. Here in Tucson, our market is just strong enough that most sellers won’t consider an offer from a buyer that’s contingent on that buyer getting an offer on their current home. You’re a much stronger buyer if you already have a contract on your home and your offer is contingent on your current home closing.
If you need any more advice about being a move-up buyer or you have any other questions about our market, feel free to reach out to me by phone or email. I’d be happy to help you.