Hi, it’s Sue Bonzell from Vanguard Properties in Sebastopol, CA. Last week I talked about downsizing your home and some solutions for finding a replacement home. I know a lot of folks are a little bit worried about selling their current home and not being able to find that replacement home in the market the way it is with very little to choose from out there, so that’s a totally valid fear. But there’s some ways we can work around that.
One, is to make your home contingent. As a contingency sale would be contingent upon you finding a replacement home. And then when you’re putting that offer in on that replacement home, your offer would be contingent on you selling your current home. Yes, it can be a little convoluted, and sometimes very challenging with some timelines, can be very stressful, but it definitely can work. It’s happening a lot here in Sonoma County, so it’s definitely a good solution for making that transition. If you’re looking to downsize, and get into another home, you can certainly do it with a contingency sale. There are some other techniques that I’d like to talk to you about.
Next week, I’ll be covering using the current equity in your home to purchase a replacement as an option. More information on that is coming next week, so I hope you’ll tune in then. I’m Sue Bonzell with Vanguard Properties.
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