Cooper Carlson - Homesbycooper

Want to know the value of Your home in today's market? Look no further! Visit homesbycooper.com/home-valuation and enter your address to receive three automated estimates - completely free and with no obligation. Don't miss out on this opportunity to discover your home's worth!

Happy FAQ Friday! Let's discuss what would happen if you need net proceeds from your current home to purchase your next home:

- Buyer’s Pending Sale of Property Contingency -

➡️Make an offer subject to the successful closing of the buyer’s pending home sale.

The buyer already has an offer on their home and is making the offer subject to the successful closing of the buyer’s home. In the event the buyer’s home does not successfully close, the buyer may terminate the agreement and retain earnest money. The buyer also has the right to waive their contingency and proceed with the agreement if the buyer has another source of funds such as a bridge loan.

- Buyer’s Sale of Property Contingency -

➡️Make an offer subject to selling the buyer’s home.

The buyer makes an offer on a home subject to receiving an offer on their home. The buyer may not have already listed their current home at the time of submitting an offer to purchase. The buyer has a certain number of days to receive an offer on their current home. If the buyer doesn't receive an offer within the agreed upon stated time, then the buyer's offer will terminate, and the buyer may retain their earnest money. The buyer also has the right to waive their contingency and proceed with the agreement if the buyer has another source of funds such as a bridge loan.

For any other questions regarding the home buying/selling process, please reach out to me at [email protected]! 📧