Can You Buy A House While Your Selling Your Current House

Buying a home contingent on the sale of a different house

HOW TO BUY CONTINGENT ON THE SALE OF A DIFFERENT HOME

You Can Win A Multiple Offer Buying Situation without selling your home first

In this video Joe Kiser interviews Jason Fox about a recent sale in which we represented the seller of one home and simultaneously the buyer of another.

The simple answer to the question is yes.  But, like most real estate answers there are a million variables that come into play.

In this video we discuss a client that needed to sell her Kirkland Rambler in order to buy a new home in Bonney Lake where she could retire near her siblings.

Timing is very important when trying to buy contingent.

Watch the video to find out how it turned out.

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Can You Buy A House While Selling Your Current House [VIDEO TRANSCRIPT]

Today we’re gonna talk
00:04
about the time Jason was holding an
00:06
open house had somebody that wanted to
00:09
write an offer on that open house and
00:10
then later he was able to make an offer
00:13
for our sellers off the open house. Is that
00:16
how it went?

Something like that.

So tell me how
00:22
it went. You’re holding an open
00:24
house it’s your listing.

Yes, we had a
00:26
nice little Rambler out in Kirkland and
00:30
you know we were weren’t sure if
00:33
we’d get multiple offers so we
00:34
were taking offers as they came.

uh-huh

A buyer came through and they said,
00:40
hey you know we might want to put an
00:41
offer on this house today.

Okay, and did they submit it?

They submitted the offer.

Uh-huh

I presented it to the
00:48
seller, the seller was excited
00:51
because earlier that day she had
00:55
gone out to Bonney Lake and found a
00:56
house that she got super excited about.
00:58
In order to buy the house in Bonney Lake
01:00
we we’re gonna go contingent.
01:03

uh-huh

We wanted to have that
01:05
house in Kirkland house sold
01:07
before or be in mutual before we made an
01:10
offer on the Bonney Lake house.

yeah okay

Yeah
01:14
because that puts us in a little bit
01:16
stronger negotiation.

Right, so did you have to wait till
01:21
Monday to do all this?

No. I
01:24
got home at Sunday, I was in Kirkland, I
01:27
got home about 4:30 p.m.
01:30
I received the offer on the Kirkland house
01:33
presented the offer to our seller we
01:37
accepted the offer and went into mutual.
01:40
Previously I already had started calling
01:43
the agent of the house in Bonney Lake.
01:45

mm-hmm

I found out that they
01:49
had also received an offer.
01:51

Oh so you probably sold the
01:53
Kirkland house but not the Bonney Lake house?

I said hey, what do I need to do to get my
01:59
client into your house because she loves it
02:00
and she’s super excited. I got the
02:04
details of what needed to happen and it
02:06
wasn’t that bad. Because we were in
02:08
mutual we didn’t have to go full contingent,
02:10
we could go pending sale. That’s
02:14
a little bit stronger offer. Which is
02:15
something you can do right now because
02:18
the market has been cooling off.

Yeah so
02:21
I guess I’ll just recap it a little bit.
02:22
You’re working an open house covering
02:24
the business while your partner’s out of
02:26
town on vacation. You’re up holding
02:29
the open home somebody comes in they
02:31
want to make the offer you guys are able
02:33
to come to terms on that offer. In
02:35
addition it puts you in a position to
02:37
actually present a strong offer on a
02:40
purchase for your seller. So at the end
02:42
was everybody happy with the situation?

The new
02:47
buyer got himself an investment
02:50
property, our seller was super
02:53
excited, we also got rent back so
02:55
she had two weeks to get her affairs
02:57
in order. Her new place is on like an
03:00
acre it’s super amazing we just saw
03:04
pictures on Facebook the other day. She’s
03:05
super excited.

So awesome
03:08
Well thanks for watching guys as you can
03:10
see every deal needs a special touch
03:12
and a little finesse so if you have any
03:15
questions or are looking to strategize on
03:17
your real estate move please talk to
03:19
Jason or I we would love to help you.

About the Author

Jason Fox

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Jason Fox is a father, a real estate broker, a marketing specialist, and a friend.Being born and raised in the Pacific Northwest he has a unique and interesting perspective on local real estate that he can't wait to share with you.Jason lives in the Meadowdale neighborhood and hopes to see you out walking, at the park, at the movies, on a trail, on Stevens Pass, on the beach, at a lake, at a Seahawks or Mariners game, or just commenting on the blog.

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