Most sellers are thrilled with the prospect of selling in a seller's market. Typically, homes sell relatively quickly and pricing is at a premium. It's also unlikely that you will have to entertain too many contingencies. But there are some pitfalls to look out for. Although your property could sell in a couple of days, the real dilemma you may face is finding your next home.
Before listing your home, take some time to decide how you will manage that potential in-between-houses stage. If you try to buy a house first, and for some reason your home does not sell quickly, you may be paying two mortgages. If your funds are limited, it may be a safer strategy to put your home on the market before you purchase a new one. You can be actively looking for a home while you are waiting for your current property to sell. It's important to note, however, that you may find yourself in flux in this scenario as well.
Before listing your home, sit down with you Texas REALTOR® and analyze the market in your area. Talk about various contingency options. You may find that you can make an offer that is contingent on the sale of your existing home. Your Texas REALTOR® can walk you through the process.
