Can You Put an Offer on a House When Yours is Not Sold?

 

Many real estate agents will tell you that it is not a good idea to write an offer on a house without seeing it first. However, it is a common practice during periods of high buyer interest and tight inventory. The home seller may be tempted to accept an offer even though it does not match the home’s value. This is not only bad for the home seller, but it also increases the risk of losing a sale in which another buyer might submit a higher offer.

If you have been looking for a new home, it is likely that you have seen homes that you would love to live in. You may have a specific house in mind, or you may just be hoping to find something a bit different from the rest of the houses in your area.

You have spent a lot of time and money trying to find the perfect home, and you want it. But now, the house you’ve been dreaming about has been sitting on the market for a few weeks and still no one is making an offer.

Your real estate agent can help you figure out why your home hasn’t sold, but here are some of the most common reasons for a house being on the market but not selling: Also read https://www.theturnerhometeam.com/sell-your-house-fast-goldsboro-north-carolina/

Pending offers

Sometimes, buyers fall through before closing on their purchase, or an unexpected event occurs that delays the process. In such a case, the home could be put back on the market. This can be disappointing, but it does not necessarily mean that you’re out of luck if you’ve fallen in love with the home.

Undue pressure

In this scenario, the homeowner is in a hurry to sell their home. They may be in a financial situation that requires them to move quickly, such as a pre-foreclosure or short sale. They might also be in a rush to find a new home because of a rental contract or other reason.

A buyer’s agent will be able to help you determine if the seller’s motivation is undue. It will depend on several factors, including how long the home has been on the market and the current housing market.

Getting a mortgage to buy the home will require the property to appraise at or above the price you’re offering. You should have an appraisal contingency in your offer that allows you to cancel the deal if the house does not appraise at or above the price.

Your offer should be in writing so that the seller and your agent can track the progress of the negotiations. Your offer should include the purchase price, any conditions you have, and a date by which the offer must be accepted.

When you’ve written the offer, your real estate agent will take it to the seller’s agent and try to get a response. This might take a while, depending on the real estate market and other factors.

 

 

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