Americans have more equity in their homes than ever. But using that equity toward a down payment on your next home isn’t as simple as you would hope, and can involve significant risk. My aim in this post is to help you learn how to protect yourself by using a home sale contingency (aka “contingent offer”) to buy your next home, or to consider other options that might make sense for you if you’re looking to move.
News headlines make it seem like selling homes is easy. Plenty of folks probably wonder whether they need a real estate broker at all. But most DIY sellers leave thousands of dollars on the table by skipping important steps when selling their homes because they don't have the tools to handle marketing their home or negotiating the best deal.
Unless you’re living under a rock, you know that our region is growing like a weed in a swamp. Windermere just released Q1 market reports for Seattle, Mercer Island and the Eastside. The median home price in King County just hit $600,000 while Seattle’s median reached $700,000, double the 2012 level during the recession. If you bought a home five years ago—or two years for that matter—you should be sleeping well!