Timing the sale of your home with the purchase of another home can be tricky. A concurrent closing clause can help you to make sure that you aren’t stuck with nowhere to go if your sale closes before your new purchase. There are some things to consider, however, before you decide to add such a clause to your sale. It May Deter Buyers People interested in purchasing your home are likely on a timetable of their own. They may need to close before school starts, be moving from out of town and need to move in on a specific date, or be closing on a sale themselves. A concurrent closing clause may deter some buyers from making an offer on your home because they are concerned you won’t be able to close when it is convenient for them. Leaving this clause out may complicate things for you, but it will also open you to a wider selection of buyers. Selling First Puts You In a Strong Position If you sell your home first and then look to buy, you can negotiate from a stronger position. You will have whatever proceeds come from the sale of your house—and already know what […]
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