Homeowners in the Southeastern Massachusetts area are faced with a dilemma, do we Buy first then Sell our home, or sell first then buy? Many home owners want to find their next home before they sell their home. They want security of knowing where they will live before selling their home. However, given the shortage of housing inventory, once that desired home appears on the market, a potential Buyer (that needs to sell their home) has a disadvantage when their offer is made, being contingent on the Sale of their home. Often times, Sellers will not want to wait for Buyers to Sell their home, given that their is no certainty as to the closing date. A better option would be to Sell first with a provision that the sale be subject to the seller finding suitable housing. The advantage to this option is that it provides certainty to the Sellers to the amount of proceed funds they will receive and now they are a more qualified Buyer when purchasing their next home where they can give certainty to the date they can close. Worst case scenario if the homeowner sells their home and then can’t find another home, then the contract can be extended or terminated leaving the seller in the same position they started with.
