home of choice: What Is A Reverse Contingency FAQ
- 06/05/17 07:04 PM
When someone wants to look at properties but they still have a home to sell, we have a discussion that goes something like this. What happens if you fall in love with a property? Can you move forward without the proceeds from your current home?
What if I sell and have no place to move? You can feel their fear.
Some clients want to see every property even though they have not considered putting their home on the market.
A reverse contingency may be a a consideration. When separate moves are just not possible. My advice is to list the property, contingent on finding a home of choice.
How serious are they to avoid that second … (9 comments)
home of choice: Taking The FEAR Out Of A Major Transition Real Estate Move
- 04/15/16 01:23 PM
Mark your calendar for May 3rd. That's when Carra Riley and Margaret Rome will be having a discussion on alleviating fears by using contingencies and reverse contingencies. Carra has such a talent for writing, helping others and always connecting the dots. Please take time to read and leave a comment on the original blog post.
Taking the FEAR out of a major Transition Move in Real Estate is not as hard as you might think! As a seller and a buyer making a change in life, you can be protected, contractually by specific clauses in the listing, the sale and the buying contract to make … (4 comments)
home of choice: A Different Kind Of Contingency
- 04/04/16 09:53 PM
I recently read this informative post... Contingent Offer How to Use First Right of Refusal on Contingent Offers By Elizabeth Weintraub This explains a contingency and what we in Maryland call a "Kick Out" This is the kind of contingency that is most often used when a buyer wants to buy but they need to sell their home first.
Recently met with a delightful couple at one of my impromptu open houses. These people seemed to love the property and wanted to make an offer...but their current house was not the market. They invited me to view their present home to do an evaluation. After … (10 comments)
One of my recent listing appointments was canceled when the potential seller was told that a home she was waiting for was no longer available. She did not want to take a chance of selling her house and not having a place to go. A few days later she was told a unit might be available in a few months. Her understandable fear ' What if I sell and have no place to move?'
My suggestion a " reverse contingency" list the property contingent on "finding a home of choice".
… (11 comments)
home of choice: We Will List When We Find The Right Place To Move
- 01/01/13 10:03 AM
nShare We'll List When We Find The Right Place To Move This past weekend I showed a condominium to a potential buyer. During the showing the question came up about selling their present house.
They were very concerned about the possibility of two moves. An illness made this more than inconvenient. I was asked to take a look at their home to see what ball park price they could expect. That's when I discussed the idea of a Reverse Contingency. It is important to know a client's motivation. Are they ready to sell? Are … (34 comments)
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