Over the weekend I was showing property to some folks who originally indicated an interest in finding a ranch style home. After gaining a good understanding of their "needs" and "wants" list and the features that would give them a "WOW" factor, we set out to look at property.
Since they are pre-approved to purchase property without selling their own home first, their thought is not to sell their current home, but rent it out instead.
Well, over the weekend we were successful at finding their vision of the "ideal home". It's truly a great ranch style home at a very attractive price tag too! New to the market, it meets all of their needs and expectations. Open floor plan. Great kitchen with stainless appliances, center island, breakfast bar and eat-in kitchen with a large pantry, tons of cabinets and granite counter tops too. The family room offers a beautiful stacked stone hearth and fireplace with hardwood floors. The master bedroom and bathroom offer a private oasis with sitting room, huge his/hers walk-in closets, double trey ceilings, spa tub and separate shower, a bay window and door leading to a beautiful patio and large fenced and level back yard. It's in move-in ready condition with brand new carpet, paint and upgrades. Simply a great house that meets their needs and even offers their Yorkshire Terrier's a room of their own as well as room to romp and chase squirrels.
Ranch style homes are not easy to find in the Atlanta area. For that reason, ranch homes are in great demand and typically don't last very long on the market. While I was subliminally patting myself on the back for once again finding my clients the "diamond-in-the-rough" that would excite them and meet all their expectations, my clients threw me a curve ball.
YES! They are elated about the home, the location, the features, EVERYTHING. They begged me to draw up the paperwork. They want to make an offer on the property. As we were signing the paperwork they pulled a 360 degree turn on me. They decided to make their offer "contingent" on their home selling first and prior to the closing date of the new home.
Although I understand their concern regarding their current house and their desire to free themselves from that financial responsibility before entering into a new mortgage; if they had shared this idea with me first, I would have refused to show them property until their home was on the market and experiencing regular showings each week.
If you are considering the possibility of purchasing a new home and you need to sell your current home before purchasing a new one, you MUST get your home listed FIRST, before visiting property.
I am sorry to say that contingency agreements dependent on the buyer's home selling first, rarely work out in favor of the buyer. Usually, another buyer comes along who can make an immediate move. As a result, the first buyer's offer is rejected and the contingency buyer looses out on their "dream home". I have watched this happen all too often. Then the buyer can never find a property that is equal to or greater than the original property he had his eye on.
Sara Hibbard is a licensed Realtor in the state of Georgia. Sara is available to answer your questions and consultation at any time. Call Sara at 770-399-8108 or e-mail her at sara@sarahibbard.com. Sara Hibbard looks forward to answering your many questions and assisting you further when the time is right for you. Sara Hibbard is Glad Georgia Real Estate is on Your Mind!
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