Once you build a backup offer for another home you hope to purchase, you are stating so you can the newest manager that you be prepared to offer your home because of the a specific big date. For the example, what if July step 1.
At first glance, this tactic makes sense. You have made paid on July step one and rehearse that money so you’re able to purchase your next domestic towards July dos. How difficult would be the fact? Really, pretty difficult.
First, the owner of the home your desire to get should trust you might sell your residence from the day assured. If not, the complete bargain drops aside. That is the reason of many suppliers try to avoid contingency also provides. (more…)