I’m in a weird situation, I guess. A friend of mine a few blocks over needs to move out-of-state and is trying to sell his home by owner. I’m interested in it, but only if I can sell my own home for a reasonable price. We’ve talked about a contingency contract between the two of us. If I cannot buy his home, though, then I don’t want to sell or move from mine. I’m only interested in selling in order to buy his home as my primary residence. He’s got to sell quickly, so he’s priced his home to sell quickly. We’re in an area that’s rapidly gentrifying, and he’s put in a lot of recent updates (roof, foundation, HVAC, electrical, floors, windows, French drains, etc).
He’s already gotten one contingency offer from a buyer who is represented by a realtor, and there is probably another offer coming by the end of the week. But as my friend, he’s giving me a shot at it first.
So what would you recommend that I do?