As homeowners are becoming pleased with their equity, the possibility of selling their home in order to buy often results in confusion.
How do most make the transition?
Since the buying side of your transition is obviously the tougher feat in today’s seller’s market, it usually would be best to purchase your replacement home first.
If you’re like most, this isn’t possible because the equity in your home is needed for a downpayment. For those who are worried they won’t find a home and be left scrambling after their home is sold, they often sell “contingent.”
This video shares some of the highlights of selling contingent:
For a summary on the other options, read my previous blog.