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Reducing Uncertainty in Your Next Move

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Dana Smigiel,

In recent years, the housing market has created considerable uncertainty for both buyers and sellers, leaving many individuals feeling anxious about their decision to make a move. The increasing interest rates, coupled with a deceleration in property sales, created a challenging environment for the real estate market. Will there be any changes in the new year? One can certainly hope. For individuals who intend to both sell their existing home and purchase a new one, this situation can appear particularly daunting. The fundamental question arises: should one prioritize selling or buying?

Fortunately, with an effective strategy, the inherent risks associated with this scenario can be alleviated through collaboration with your real estate agent and applying appropriate contingencies.

It is a common misconception that homeowners must sell their property before making an offer on a replacement. This approach can be perceived as precarious in any market, and the current climate exacerbates these concerns. Individuals may worry about the implications of selling their home without securing a viable replacement.

A real estate agent can provide essential insights in this context. Contingencies play a critical role in every real estate transaction. It is widely understood that a buyer may make an offer contingent upon the sale of their current home, typically allowing a timeframe of 30 to 60 days to secure an offer on their existing property. Conversely, if there is uncertainty regarding the current market value of one’s home, sellers can accept offers that are contingent upon locating a new residence. Both strategies serve to protect the interests of the parties involved, mitigating risks should the appropriate home or financing options prove elusive.

If you are looking for a real estate agent to assist with your next move, contact me at your earliest convenience to discuss how I can help. When you engage me as your real estate agent, I can help you navigate the complexities of buying and selling properties. Our partnership will allow us to manage the process effectively, enhancing your overall experience and minimizing potential risks. My goal is to ensure that you achieve your desired outcome: a new home that fits your current needs.

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