What comes first the chicken or the egg? Selling your present home or purchasing your new one. In this market you better be sure of your nest egg before you purchase a new home when you need to sell your present home.
One protection in your purchasing agreement that may be available today in the Main Line Philadelphia real estate market, due to sellers having a harder time in finding good buyers, is the “home sale contingency.” This allows you time to sell your home before you have to go to settlement on the new home. This protects you since if you cannot sell your home you can get out of the deal.
In general, it is safer to have a buyer for you present home, before you enter in an agreement to buy a new home. An experienced agent can make sure that your home for sale is looking its best and being market properly to get the best price in the shortest time period.