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Real Estate
Reply to "How does "no contingencies" actually work"
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[quote=Anonymous]You need to come up with the cash for a down payment without selling your current home. Try to have your current home listed within a week after closing on the new one to minimize the time you'll be paying two mortgages. Your realtor should be able to front all of the costs of selling (maintenance, painting, staging, etc.) and deduct it from the sale price, to reduce your expenses when you're cash strapped. The alternative is selling first, possibly with a longer closing period or a rent back, and hoping to buy, but you risk ending up with nothing (and then inflation eroding your purchasing power).[/quote]
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