This Is How You Win With a Home-Sale Contingency

Tips to help you buy your dream home contingent on selling your old house.

Selling your Massachusetts home? Get a home value report

Buying a Massachusetts home? Click here for full MLS access

Do you already own a home but want to buy a new one? Unfortunately, not everyone has the money to keep two homes and pay both mortgages. Most people will have to sell their current property to have the funds to pay for the new house. However, two transactions can sometimes mean double the headache. If you're in this position, what can you do to ensure a successful home purchase?

One option that you have is to include a home-sale contingency clause in your offer. This means you will only buy the new home if your current one sells. If it doesn’t, you are free to walk out of the purchase agreement. However, home-sale contingencies can make your offer less attractive to sellers because it introduces uncertainty, may cause delays, and has the potential to make the deal fall through.

"Working with an experienced agent can instill confidence in the seller that your home will sell on the market."

To make your offer more appealing, consider presenting a competitive purchase price or better terms. You need to work to make your offer worth their while. You could cover some of the seller's closing costs, or provide a larger earnest money deposit. By demonstrating your commitment to the transaction, you can help the seller feel more comfortable waiting for your home to sell.

If you're feeling uncertain about how to navigate the process, work with a real estate professional who has a proven track record of quickly selling homes. They can guide you through the complexities of a home-sale contingency and offer valuable advice on how to make a competitive offer. In addition, working with an experienced agent can help instill confidence in the seller that your home will sell on the market.

Buying a house contingent on selling yours can be a challenging experience, but with the right strategy and support, it can also be successful. For more tips on how you can confidently navigate this real estate move, call or email me. I’d love to connect with you.

How To Make Money by Investing in Real Estate

Three avenues you can take to make money with real estate investing.

Selling your Massachusetts home? Get a home value report

Buying a Massachusetts home? Click here for full MLS access

How much do you know about the power of investing in real estate? The truth is that this avenue can be very lucrative and help you build long-term wealth. However, know upfront that this type of investing is much more about the long game, and you’ll need to be patient. The sooner you start, the more you can earn. 

Over the years, people have gotten their start in real estate investing in various ways. Some people have rented out part of their homes, lived with their families a little longer, and worked extra hours to save up enough to start investing. However you make it work, know that the initial work is worth it.

There are a thousand different ways you can save money; you just need to get your start. Be educated on the industry, then begin because, as I said, the sooner you start, the better. Once you decide to invest, there are three main ways you can take your investment: 

1. Buy and hold. This is the most traditional method. Over time, appreciation will mean that your property goes up in value. You can save up this equity; all you have to do is wait for it to grow.

"Investing in real estate can be very lucrative; you just need to be patient."

2. Flipping. This method requires more work, but you can buy a fixer-upper property that has high-return potential, then take the time to fix it up. Once it's in better condition, you can sell it for much more than what you bought it for. You just have to know how to get the renovations done and ensure profit.

3. Short- or long-term rentals. You can buy a property and have a tenant in it for a year or more or focus on short-term rentals on sites like Airbnb or Vrbo. These are mainly for vacation rentals and are best in tourist destinations. You’ll just need to know the laws of the area and put in the work to be the landlord. 

Whatever you decide to do, just make sure to be educated and not do it alone. This was just a short crash course, but I would be happy to share my knowledge and help you through the process of building wealth through investing in real estate. Call or email me anytime if you want my help or have any questions. I hope to hear from you soon!