If you’re a move-up buyer, here’s what you need to do to make a great contingent offer.

 

We’re still in a fantastic market right now—especially for those who want to take advantage of current interest rates. This means there are a lot of buyers who want to move up to a larger home because their family is growing, they’ve developed different ideas of what they want in a home, etc.

If you’re a move-up buyer, you need to have a great package to present to the seller of your “move-up” home. It’s not the end of the world if you need to sell your current home first in order to buy, but your agent needs to be able to submit a clean offer. By this, we mean your house needs to be either on the market or prepped for the market, it needs to be priced aggressively, and your agent needs a great portfolio for the area you’re selling in.

Presenting this information to the seller is key in being considered over other contingent offers and noncontingent offers. Also, remember that when you’re presenting a contingent offer, you have to sweeten the offer at least a little bit. This could mean upping the offer price or offering desirable terms.

“If you’re a move-up buyer, you need to have a great package to present to the seller of your “move-up” home.”

Many sellers who would consider your contingent offer will want to know whether there is any certainty that the terms of the contingency will be met so their own sale can proceed to close. This primarily boils down to who you’re hiring, what their reputation is, and what their plan of action is to make the transaction work.

If you have any questions about this topic or you’re thinking of moving up and don’t know where to start, give us a call. We’ll customize a plan that fits your needs.