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Sandy Tower, Broker Contact Sandy: sandy@sandytower.com Toll Free: 1/877/964-5800

Associated with:

Dickerson & Nieman, REALTORS®, 6277 E Riverside Blvd., Rockford, IL 61114

STRATEGIES FOR BUYERS: SELL FIRST, BUY LATER

It is a VERY WEAK bargaining position to offer to buy a home, contingent

on the sale of your current home. Sometimes it works with a new home

builder who has other houses to sell and can afford to put one on a

contingency. But picture yourself looking for the perfect home for you and

your family. You find it and the whole family loves it too. Now you make

an offer to the Seller.

Of course, you want the Seller to reduce the price as well as wait until

your home is sold. The Seller figures that's a risky deal. Tomorrow may

come a Buyer who DOESN'T have to sell a house while he's waiting for

your home to sell, if it ever will. So he says OK, but he wants more money-

-a full price offer! The result is you will pay more for the house because of

the contingency.

Now you have to sell your existing house fast! Otherwise you lose the

home of your dreams. So t ell quickly you might take an offer that's

lower than if you had more time. In the end, buying before selling

might cost you A LOT of money. The recommendation is SELL FIRST,

THEN BUY. It won’t hurt for you to shop around a little, just to know the

areas you will want to live in, and what you want in a home.

Another strategy is to make the sale of your home "subject to Seller finding

suitable housing". Adding this phrase to the listing and the contract means that

WHEN YOU DO FIND A BUYER, you will have some time to find the new

place If you don't find anything to your liking, you don't have to sell your

present home. Be a savvy Buyer! Sell First, Buy Later!   Return to Buyer Reports