The cart before the horse...
Heidi Hines, a local Charlotte, NC real estate expert says that many potential buyers put the cart before the horse.
“Way too often, people will place their house on the market for sale and immediately start their search for a new home,” says Hines. “This may seem like the logical thing to do, but unfortunately the seller may be placing themselves between a rock and a hard place.”
For Example: Let’s say that seller “Jane” starts looking at houses prior to selling her current house. During her search she falls in love with a house and puts an offer on it, contingent on the sale of her house. “John”, the seller of the house that Jane is making the offer on is not particularly fond of accepting a contingency Offer, and therefore agrees to do so but only if it is full price. “Jane” wants the house so bad that she agrees to the demand of full price.
“Jane” then anxiously awaits a buyer to come along that is willing to purchase her house. One month goes by and “Jane” is now extremely worried that another buyer is going to want “John's” house.
Finally, “Jane” gets an offer on her house! Unfortunately, the offer is for much less than what she was expecting, but since “Jane” does not want to lose the house that she put a contingency on, she goes ahead and accepts the low offer without even making a counter offer.
In this case, “Jane” paid more than she should have for “John's” house and she also accepted much less than she should have for the sale of her house. By making a contingency offer on a house prior to having her own house sold, “Jane” made a bad deal on the sale and purchase of each house.
This is a prime example of putting the cart before the horse.
And here are my top picks for the week...
 |
146 Wendover Trace
Impressive five bedroom, two and a half bathroom home located in the subdivision of Morrison Plantation, convenient to shops, restaurants and the lake! Enter this home through the welcoming two story foyer offering hardwood flooring, crown molding, ...
|
|||||
|
|
18619 Victoria Bay Drive
Striking four bedroom, two and a half bathroom home in the subdivision of Victoria Bay. Enter the home through the inviting two-story foyer offering ceramic tile flooring, a palladium window, chair railing and a coat closet for your convenience. The...
|
|||||
|
|
9920 Clarkes View Place
0.34 acre lot in a custom gated section of the Christenbury community. This master planned community consists of 225 acres. Incorporating four distinct residential villages, as well as a world-class Manor House amenity center situated on over three ...
|
|||||
|
|
1010 Farmfield Lane
Attractive four bedroom, three full bathroom split level home located on a cul-de-sac lot in the subdivision of Olde Concord. The inviting foyer welcomes you into this home offering marble flooring, a palladium window, chair railing and a brass acce...
|
|||||
|
|
5819 McTaggart Lane
Stunning six bedroom, three and a half bathroom Saussy Burbank home with a finished basement in a great location within the sought after swim and golf community of Highland Creek, you can even walk to the neighborhood schools. Step-up the stacked st...
|
|||||
|
|
6220 Oak Cove Lane
Gorgeous three bedroom, two and a half bathroom home located in the distinguished swim and golf community of Highland Creek The two story foyer invites you into to this welcoming home offering hardwoods flooring, a chandelier, palladium window above...
|
|||||
|
|
7532 Pickering Drive
Fabulous four bedroom, plus bonus room, two and a half bathroom home located in the subdivision of Newell Place. Enter this home through the welcoming two-story foyer offering hardwood flooring, a palladium window and side lights in the door. The po...
|
|||||
|
|
6213 Regal Court
Stunning all brick five bedroom, three and a half bathroom executive style home located in the swim and golf community of Highland Creek. Enter this home through the welcoming foyer offering hardwood flooring, transom window, side lights in the door...
|
|||||
|
|
4417 Squirrel Trail Lane
Fabulous three bedroom, two full bathroom ranch style home located in the popular swim and golf community of Highland Creek. The inviting foyer greets you with warmth offering hardwood flooring, an oil rubbed light fixture, a side light in the door ...
|
|||||
|
|
917 Anderson Street
Brand new three bedroom, two and a half bathroom home located just minutes from Uptown Charlotte in The Arts District. This home offers: 2 pc Molding entire first floor except powder room, staircase and 2nd floor Hall Wood flooring on entire first f...
|
