WHAT YOU NEED T U NEED TO KNOW IF YOU HAVE TO SELL A HOME IN ORDER TO PURCHASE A NEW HOME
Are you looking to purchase a new home in the near future?
Do you need to sell your home to be able to afford the new one?
If so, the following information can help you avoid costly and time-consuming mistakes, so you are better prepared to enter the market and get your offer accepted. While the market is slowing down slightly from the hyper-crazy multiple offers frenzy we have been experiencing over the past 3 years, there is still less inventory than buyers, making it still a sellers' market. While we are not seeing as many offers 50K above list price or homes sold before they even hit the market as much as before and we are not seeing 20 offers for every home, we are still seeing "time to contract" considerably less than typical real estate markets in the past and are still seeing multiple offer scenarios with continued upward price pressure. Sellers can and still are being picky about the offers they will entertain. Unless you are looking to make an offer on a home that has had multiple contracts fall through and /or has been on the market for more than 60 days, you will need to be savvy as to how you approach your offer. Those homes may have much more motivated sellers than a home that just recently went up for sale on the market. Not everyone has the luxury of having enough cash on hand to make an all-cash offer and therefore they must sell their home to come up with the amount needed to purchase their new home.
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