These days, when inventory is low and demand is high, submitting a contingent offer will likely only hurt your chances of winning a home in a multiple-offer situation. Luckily, there are five ways you can avoid becoming a contingent buyer, giving you a competitive edge in today’s hyper-seller’s market:
1. Cash offer. In the current market, cash is king. Your offer will stand out much more if you can afford to pay with cash.
2. Borrow against the equity in your home and either get a line of credit or a bridge loan.
3. Sell your home first and get a short-term rental until you find a new home.
4. Sell first and negotiate a rent-back. We’ve been able to negotiate for our sellers to stay in the property for certain periods after closing for free.
5. Sell to an investor. By selling to an investor, you can become a non-contingent buyer on your next home purchase.
As you can see, there are several ways that we can help you find success in today’s super competitive market without having to make a contingent offer. If you have any questions or would like more details, feel free to reach out to us. We’re here to serve you.