Buying a Replacement Home with a Contingent Offer: What You Need to Know

For many homeowners, the biggest question when moving is: “How can I buy my next home without getting stuck owning two at once?” The answer often lies in making a contingent offer.

A contingent offer simply means your purchase of the new home depends on selling your current one first. This option gives you peace of mind while making it possible to secure your replacement home.

How a Contingent Offer Works

1. Find Your Replacement Home – Once you’ve identified the home you’d like to buy, we write an offer that clearly states it is contingent upon the successful sale of your current property.

2. The Seller Reviews Your Offer – Some sellers are open to contingencies, while others prefer offers without them. If your home is already listed (or in escrow), it makes your contingent offer much stronger.

3. Timeline Is Set – Typically, there’s a timeframe for your home to sell. If it sells on time, you can move forward with your purchase.

4. You’re Protected – If your home does not sell within the timeframe, you can walk away without losing your deposit.

Advantages of Buying with a Contingent Offer

• Peace of Mind – You won’t end up paying two mortgages at the same time.

• Smooth Transition – It allows you to line up your sale and purchase for a seamless move.

• Stronger Position – When your home is already listed or under contract, sellers are more likely to view your contingent offer as solid.

Tips for Success

• Get Your Home Market-Ready – The sooner your home is listed, the better your chance of making a strong contingent offer.

• Be Flexible – Sellers may prefer non-contingent offers, so being competitive with price and terms can help.

• Work with the Right Agent – Coordinating both the sale and purchase takes careful planning and negotiation.

Final Thoughts

Buying a replacement home doesn’t have to mean juggling two mortgages or rushing into the wrong deal. A contingent offer gives you the protection you need while opening the door to your next home. With the right guidance, you can sell confidently, buy smart, and transition smoothly into the home that’s right for you.

Bill Killman – Bakersfield Realtor
📞 661-599-1636 | Cal DRE #02113883
📸 @killmanbill
🏡 Bakersfield Real Estate Group – Watson Realty
🔗 Connect with Bill