Hey family! If you’re new here, I’m Tayor Andre, and I’ve been in real estate for over 10 years. My goal? To make real estate easy by giving you the information you need to make the best decisions for your future.
Lately, I’ve been getting a lot of questions from sellers who are ready to leave Massachusetts or Rhode Island for warmer weather—but they don’t want to end up homeless in between moves. If that sounds like you, let’s talk about how to sell your home while making sure you have somewhere to go next.
What Does “Contingent Upon Seller Finding Suitable Housing” Mean?
If you’ve been on Zillow or other real estate sites, you may have seen listings that say “subject to seller finding suitable housing.” What does that mean?
- It means the seller won’t move out until they find a new home.
- It protects the seller from being left without a place to live.
- It could mean the buyer has to wait longer to move in, depending on how long it takes the seller to find a new home.
So if you’re a seller who’s nervous about where you’ll go next, this contingency ensures you stay in your home until you secure your next place.
Should You Sell First or Buy First?
If you’re thinking about selling your home but haven’t found a new one yet, you have two options:
- Sell first, then buy – List your home now, find a buyer, and include a contingency saying you won’t leave until you find your next place.
- Buy first, then sell – If you have enough savings or financing options, you can purchase your new home first and then take your time selling your current home.
Both options have pros and cons, and it really comes down to your financial situation and comfort level.
Pro Tip: Some programs act like “gap insurance” for sellers, allowing you to buy your next home before selling your current one. If you want to explore this, let’s talk!
What Does This Mean for Buyers?
If you’re a buyer looking at a home with this contingency, here’s what you need to know:
- Your move-in date may be uncertain. Even if you close on time, the seller might need extra time to find their next home.
- You might need a flexible lease. If you’re renting, don’t give your landlord a 30-day notice too soon—you don’t want to end up without a place to live!
- Communication is key. Talk with your agent, your lender, and even your landlord about potential delays so you’re prepared for any timeline shifts.
Final Thoughts: Protect Yourself & Stay Informed
Selling and buying a home at the same time can feel stressful, but with the right strategy, you can make it smooth and successful.
- Sellers: You don’t have to rush—use contingencies to protect yourself.
- Buyers: Be flexible and communicate to avoid surprises.
- Everyone: Know your options, plan ahead, and work with a team that has your back.
Watch the Full Conversation
Want to hear more details on how to navigate this process? Watch this part of the discussion here:
Video Timestamp: 00:00:00 - 00:06:27
In the next post, we’ll discuss how credit, communication, and financial planning can make or break your homeownership journey. Stay tuned!
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