Buying A New Home Contingent Upon Selling Your Current Home

Buying A New Home Contingent Upon Selling Your Current Home

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"Trey Swain helped me find the house of my dreams! He helped me with the whole process, to include the sale of 2 other properties. His professionalism and willingness to respond to questions or concerns was unmatched. I would recommend Trey to anyone looking for help with real estate!"

Leo C.

Guyton, Georgia

Is your current home starting to get a little cramped? Maybe the family has grown since your last home purchase and the little ones are getting to the age where they need their own space? Or maybe the kids have all left and you want to downsize? Few things are as intimidating to home buyers as the prospect of buying a new home when you have the current one to sell. Not everyone is comfortable being stuck with two mortgage payments at once; and as is the case with the majority of home buyers, the bank simply won’t allow it. So what is one to do in this situation? Step 1: CALL ME! Step 2: Let’s sit down and formulate a plan of attack! One popular available option is the “Sell or Lease of Buyer’s Property Contingency”. While the offered price generally needs to be strong for a seller to accept this contingency, this will allow you to secure a new home and have the closing be contingent on getting the current home sold or rented out first. While there are other important things to be considered with this contingency, this is a great way to make the transition with a much lower amount of risk. The best case scenario would be that you are in a position to price your current home aggressively enough that it will sell quickly, as was the case with Leo, pictured here. In Savannah’s current real estate market, well priced homes are going fast. Call me if you want to know your magic number! Proper pricing will give you the confidence necessary to go out and secure a new home. Your first mortgage payment on the new home will be due up to two full months after closing, depending on your closing date, which will give you a little breathing room for getting the current home sold. For example, if your closing date is August 2nd, your first mortgage payment won’t be due until October 1st! Call me today and let’s discuss a game plan. 912-224-8913

Trey Swain Headshot
Phone: 912-224-8913
Dated: August 22nd 2014
Views: 196
About Trey: As an agent who has been an expert in this local area for more than a decade, I bring a wealth of kn...

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Savannah Real Estate Experts 912-356-0006
9219 Whitefield Ave.
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