Obstacle 05 · Solve the dependency
Why does my offer depend on selling?
A home-sale contingency may protect you when the next purchase relies on selling your current home. The useful question is what creates that dependency.
I need the equity for the purchase.Compare accessing equity now with buying first and applying it later.I need the current home out of the approval calculation.Explore qualification and an applicable Guaranteed Backup Contract.I could qualify, but the overlap worries me.Test the actual costs and how long you could comfortably carry them.
A few things matter.
- You may have both a funds problem and a qualification problem.
- Verify approval, available funds and timing before relying on a buy-first plan.
- Solving the financial dependency does not decide which contract protections to keep.