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HomeSeller Tips - Making a Contingent Offer You weren't planning to sell your home and move right away - just starting to think about it. Then, Sunday afternoon you went for a drive to look at a few open houses. And there it was, your perfect dream house, new on the market and in your budget! Now what do you do? Here are some suggestions: - Call your real estate agent right away so you get professional advice and representation in what is almost certain to be a complex transaction. - If you're not already pre-approved for a mortgage, contact a mortgage broker or bank first thing Monday morning (ask your agent for a referral). - You may consider making a "contingent" offer on the new home. This means that your purchase of the new home is contingent on the sale of your old home. - If a contingent offer won't work, consider a "bridge loan," a temporary financing package that allows you to buy the new home while waiting for your current home to sell and close. - Finally, buying or selling a home is stressful under the best of circumstances. Ask yourself and your family, is this new home so perfect that it's worth the extra stress of compressing two transactions into one? If so, go for it! If you have other questions about contingent offers or other complex transactions, the agent listed here would be happy to help. HomeSeller Tip In a contingent offer, don't get your heart set on your new home. Instead, focus on preparing your current home for a fast sale. HomeSeller Tip #2 In a busy market, sellers rarely accept contingent offers.

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