Expert: Dick Dennis - 5/25/2006

Question
is it better to sell your home first or make a contegency offer on the new home you want and then try to sell your hopme.

Answer
It is always better to put your house in escrow so that you are not at the mercy of the seller of the house you want to buy. While your house is on the market trying to sell, go to the neighborhood you want to live and get real familiar with the homes that are available. You can afford to wait to find the house you absolutely have to have.

If it turns out that you do want to make an offer on a house that you must have, then you're going to have to assure the sellers that your house is going to sell real fast and you do have it listed with a top-flight real estate agent. Otherwise, they are going to reply with something like: seller accepts buyers offer subject to seller having the right to continue showing property for sale and if seller should find another buyer, buyer (you) shall have 72 hours to remove the contingency or seller shall have the right to cancel (your) transaction.

This is something you would do, too, if you wanted to be protected by someone who doesn't have their house sold yet.

I do wish you well.

Dick Dennis        dixiedee13@aol.com