Elli Davis' blog: Buying before you sell can get tricky

It’s been a busy week with lots of showings and some appraisals.

I have two offers ready to submit — one on a home in Forest Hill and the other in the Bathurst and Wilson area. Both with a price tag around $1 million.

The catch is that both of the buyers want to make an offer with a condition that they are able to sell their current home first.

You would think in this active market that people would not worry about selling their homes but there is some concern out there — especially among younger buyers.

It’s always a much more difficult process to go through because a seller usually doesn’t want that kind of offer.

But if a buyer can’t sell their current home they can’t pay for their new one so it is a safety net.

I said to one buyer that I’d take their conditional offer but that I wanted them to list their house immediately to show the seller that they were really serious.

It’s not a strong position to be in but everyone has their own toleration of risk and some people are much more conservative than others.

I never push anybody into doing something they don’t want to do because in the end they have to pay for it and if they don’t have the money that creates even worse problems.

Elli Davis has been awarded the #1 position in Toronto for Royal LePage (approximately 13,000 agents nationwide) for the 22nd consecutive year and the #5 position in Canada for Royal LePage. Read her weekly blog at PostCity.com. For more information on Elli Davis click HERE.

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