It might feel like a high-wire act at times, but it’s absolutely possible to buy a new home before you’ve sold your old one.
Vickey Barron, a veteran real estate broker at Compass in New York, has a client who's moving to Los Angeles. The client thought it'd take a year to find a home, but she fell in love with a place right away.
kAm“p?5 D96’D =:<6[ ?@H H92En x 92G6?’E 6G6? =:DE65 >J @E96C 9@>6 J6E] (92E 2> x 5@:?8nQ q2CC@? D2JD] Q|J 244@F?E2?E :D E6==:?8 >6 x’> @FE @7 >J >:?5]”k^Am
kAm%96 ?F>36C\@?6 4@?46C? E92E 4=:6?ED 92G6 :D E92E E96:C 9@>6 H:== D6== D@ 72DE E92E E96J’== ?665 E@ >@G6 @FE 367@C6 E96J’G6 7@F?5 E96:C ?6IE @?6[ D2JD |:4926= !6C?2[ 2 C62= 6DE2E6 286?E @7 @G6C a_ J62CD :? }@G:[ |:49:82?]k^Am
kAm“(6 92G6 baT @7 @FC AC@A6CE:6D 8@:?8 23@G6 2D<:?8[ H9:49 >62?D >F=E:A=6 @776CD[” !6C?2 D2JD] “%9:?8D 2C6 >@G:?8 AC6EEJ BF:4<]”k^Am
kAm%9:D :D?’E ;FDE ECF6 :? E96 |:5H6DE] p44@C5:?8 E@ yF?6 a_ae 52E2 7C@> E96 }2E:@?2= pDD@4:2E:@? @7 #62=E@CD[ E96 >65:2? 2>@F?E @7 E:>6 7@C 2 9@>6 E@ D:E @? E96 >2C<6E :D ag 52JD[ 4@>A2C65 E@ E96 `_ H66<D E92E :E E@@< E96 2G6C286 3FJ6C E@ 7:?5 2 9@>6 @G6C E96 A2DE 76H J62CD]k^Am
kAm(96E96C J@F ?665 E@ >@G6 C:89E 2H2J @C J@F’G6 8@E E:>6 E@ D9@A[ 92G:?8 2 4=62C DEC2E68J H:== 96=A 6?DFC6 E92E J@F 5@?’E 6?5 FA 4@F49 DFC7:?8 @C @G6C=J 7:?2?4:2==J DEC2:?65]k^Am
k9am{:DE J@FC 9@FD6 p$p!k^9am
kAmx7 J@F’G6 8@E J@FC D:89ED @? E96 ?6IE 9@>6 J@F H2?E E@ 3FJ[ J@F’== H2?E E@ k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^=62C?^9@H\E@\D6==\J@FC\9@FD6nFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?Ela_e`ee`U2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6?6CQm=:DE J@FC 4FCC6?E 9@>6k^2m 2D D@@? 2D J@F 42?]k^Am
kAmx7 E96 D6==6C :D?’E :? 2 CFD9 E@ 86E @FE[ E96J >2J 28C66 E@ 8:G6 J@F b_ 52JD E@ D6== J@FC 9@>6] p44@C5:?8 E@ q2CC@?[ J@F’C6 >@C6 =:<6=J E@ 92G6 E9:D C6BF6DE E2<6? D6C:@FD=J :7 J@F 2=C625J 92G6 E96 9@FD6 @? E96 >2C<6E]k^Am
kAm*@F 4@F=5 6G6? 92G6 J@FC 286?E AC6D6?E E96:C >2C<6E:?8 A=2? E@ E96 D6==6C’D 286?E E@ 56>@?DEC2E6 9@H E96J 42? 86E J@FC 9@FD6 D@=5 BF:4<=J] %9:D :D 2 AC676CC65 E24E:4 7@C }:4< q@@E9[ 2 C62= 6DE2E6 286?E H:E9 &E29 #62= tDE2E6 :? $2=E {2<6 r:EJ]k^Am
kAm%9:D 86DEFC6 D9@HD E96 D6==6C E92E E96J 42? ECFDE E96 D2=6 H:== 4=@D6[ q@@E9 D2JD] “(6’C6 D6==:?8 9F?5C65D @7 >:==:@?D @7 5@==2CD :? C62= 6DE2E6] (6 42? D6== E9:D 9@FD6[ 2?5 E9:D :D 9@H H6’C6 8@:?8 E@ 5@ :E]”k^Am
k9am(92E E@ =@@< 7@C :? 2? 286?Ek^9am
kAmp k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^=62C?^2C6\2==\C62=\6DE2E6\286?ED\E96\D2>6\H9:49\C62=E@C\:D\C:89E\7@C\J@FnFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?Ela_e`ee`U2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6?6CQmC62= 6DE2E6 286?Ek^2m H:E9 J62CD @7 6IA6C:6?46 :? J@FC 2C62 42? 36 2 G:E2= C6D@FC46[ 6DA64:2==J H96? J@F’G6 8@E 2 52:DJ\492:? @7 EC2?D24E:@?D E92E ?665 E@ 36 6I64FE65 @? 2 46CE2:? E:>6=:?6 7@C 6G6CJ@?6 E@ 36 92AAJ]k^Am
kAmp <?@H=658623=6 286?E 42? 4@>>F?:42E6 H:E9 2== @7 E96 :?G@=G65 A2CE:6D E@ @C82?:K6 4=@D:?8D] %9:D 96=AD 6?DFC6 E92E E96 @G6C2== AC@46DD — H9:49 42? 86E 4@>A=:42E65 — CF?D 2D D>@@E9=J 2D A@DD:3=6]k^Am
kAm“#62= 6DE2E6’D 2 D>2== 4@>>F?:EJ[” !6C?2 D2JD] “(6’C6 2== 7:89E:?8 7@C E96 D2>6 4=:6?ED 5FC:?8 E96 52J[ 3FE 2E ?:89E[ H6 8@E E@ H@C< E@86E96C E@ 7:8FC6 :E @FE] ~E96CH:D6[ ?@3@5J 86ED 2 9@FD6 2?5 ?@3@5J 86ED A2:5]”k^Am
kAm*@FC 286?E 42? C6AC6D6?E J@F :? 3@E9 E96 AFC492D6 @7 J@FC ?6IE 9@>6 2?5 E96 D2=6 @7 J@FC 4FCC6?E @?6] %9:D :D?’E E96 D2>6 2D k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^=62C?^5F2=\286?4J\:==682=\:?\D@>6\DE2E6DnFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?Ela_e`ee`U2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6?6CQm5F2= 286?4Jk^2m WH9:49 J@F D9@F=5 2G@:5X[ H96C6 @?6 286?E C6AC6D6?ED 3@E9 E96 3FJ6C 2?5 D6==6C :? E96 D2>6 EC2?D24E:@?]k^Am
k9am(92E E@ =@@< 7@C :? 2 D6==6Ck^9am
kAm*@F >:89E ?665 E@ >2<6 2? @776C H:E9 2 k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^=62C?^4@?E:?86?E\@776CnFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?Ela_e`ee`U2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6?6CQm4@?E:?86?4Jk^2m[ H9:49 DE:AF=2E6D E92E E96 AFC492D6 @7 J@FC ?6IE 9@FD6 42?’E @77:4:2==J 4=@D6 F?E:= J@F’G6 D@=5 J@FC @=5 @?6]k^Am
kAm|2<:?8 2? @776C E92E’D 4@?E:?86?E @? J@FC 9@>6 D6==:?8 :D @?6 @7 E96 E@F896DE ?68@E:2E:@? A@:?ED[ D2JD q@@E9] w6 D66D >@DE D6==6CD :? 9:D >2C<6E 6?E6CE2:?:?8 >F=E:A=6 @776CD[ 2?5 :E’D 5:77:4F=E E@ 4@>A6E6 H:E9 @?6 E92E 42? 4=@D6 D>@@E9=J :? b_ 52JD]k^Am
kAm“$@ E92E’D H96? J@F DE2CE =@@<:?8 2E DA64:7:4 ?6:893@C9@@5D[ DA64:7:4 AC:46 A@:?ED[ 2?5 D@>6 @7 E96D6 9@FD6D E92E 2C6 D:EE:?8 2 =:EE=6 3:E =@?86C @? E96 >2C<6E[” 96 D2JD] x7 E96 9@>6 92D 366? =:DE65 7@C D2=6 7@C 2 76H >@?E9D[ E96 D6==6C >:89E 36 >@C6 7=6I:3=6 2C@F?5 J@FC ?665D]k^Am
kAm“(96? H6 5@ DF3>:E E92E @776C[ H6’C6 ?@E 92G:?8 E@ H@CCJ 23@FE E9C66 @E96C @776CD E92E 2C6 2== 42D9 2?5 ?@ 4@?E:?86?4:6D]”k^Am
kAmp44@C5:?8 E@ q@@E9[ E96D6 9@>6D @7E6? E2<6 2 H9:=6 E@ D6== 3642FD6 E96J H6C6 :?:E:2==J AC:465 “2 =:EE=6 E@@ 9:89]” p7E6C D:EE:?8 7@C H66<D[ E96 AC:46 4@>6D 5@H?[ 3FE ?@H E96J’C6 4@>A6E:?8 H:E9 2== E96 ?6H =:DE:?8D E92E 92G6 D:?46 4@>6 @?E@ E96 >2C<6E] (:E9@FE @E96C @776CD E@ 4@?D:56C[ J@FCD 364@>6D >@C6 2EEC24E:G6]k^Am
k9am(92E E@ =@@< 7@C :? 2 3FJ6Ck^9am
kAmx7 J@F’C6 DE:== =@@<:?8 7@C J@FC ?6IE 9@>6[ J@F 42? 2=D@ 92G6 2 4@?E:?86?4J :? J@FC 9@>6 D2=6 4@?EC24E E92E 8:G6D J@F 2 H:?5@H E@ D9@A]k^Am
kAm“%96 >@DE :>A@CE2?E E6C> xV> =@@<:?8 7@C :D 7@C E9:D D2=6 E@ 36 4@?E:?86?E @? J@F 7:?5:?8 E96 9@>6 @7 J@FC 49@:46 H:E9:? E96 ?6IE h_ 52JD[” !6C?2 D2JD] “p?5 2 3FJ6CVD 8@??2 5@ :E[ 3642FD6 :EVD 8@??2 E2<6 E96> 7@FC E@ D:I H66<D E@ 7:?5 2?@E96C 9@>6 2?JH2J]”k^Am
kAm!6C?2 C64@>>6?5D D6EE:?8 2? 2D<:?8 AC:46 E92E’D 2 =:EE=6 3:E 36=@H E96 9@>6’D C62= G2=F6] %9:D 42? 5C2H :? 2 =2C86C A@@= @7 AC@DA64E:G6 3FJ6CD[ H9@ H:== 3:5 282:?DE 6249 @E96C 2?5 36 >@C6 7=6I:3=6 :? 4@?EC24E ?68@E:2E:@?D]k^Am
kAm+:==@H 52E2 D9@HD E92E 3FJ6CD H:E9 4@?G6?E:@?2= 7:?2?4:?8 EJA:42==J E2<6 b_ E@ cd 52JD 7C@> 4@?EC24E D:8?:?8 E@ 4=@D6] pD J@F 6G2=F2E6 @776CD[ J@F’== H2?E E@ AC:@C:E:K6 E9@D6 H:E9 D64FC65 7:?2?4:?8] x7 E96J’C6 A2J:?8 H:E9 42D9 @C 42? AC6D6?E 2 k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^=62C?^9@H\E@\86E\2\>@CE8286\AC62AAC@G2=nFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?Ela_e`ee`U2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6?6CQm=6EE6C @7 AC62AAC@G2=k^2m 7C@> 2 =6?56C[ E96J’== 36 >@C6 =:<6=J E@ 36 23=6 E@ 4=@D6 H:E9:? E96 E:>6=:?6 J@F ?665]k^Am
k9amw@H E@ A2J 7@C J@FC ?6IE 9@>6k^9am
kAmr@?D:56C 9@H >F49 42D9 J@F’== 92G6 :? 92?5 7C@> J@FC 7FEFC6 9@>6 D2=6[ 2?5 H96E96C J@F’== ?665 255:E:@?2= 7:?2?4:?8 7@C J@FC ?6H 9@>6]k^Am
kAmz66A :? >:?5[ J@F H@?’E 86E E@ <66A E96 7F== 2>@F?E @7 J@FC D2=6] tG6? 27E6C A2J:?8 @77 2?J >@CE8286 32=2?46D[ J@F’== 92G6 E@ A2J D6==6CDV 766D[ E@@] *@F 42? 6IA64E E@ DA6?5 36EH66? k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^=62C?^9@H\>F49\5@6D\:E\4@DE\E@\D6==\2\9@FD6nFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?Ela_e`ee`U2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6?6CQm`_T 2?5 `dT @7 E96 9@>6 D2=6 AC:46k^2m @? 6IA6?D6D =:<6 4=@D:?8 4@DED 2?5 286?E 4@>>:DD:@?D]k^Am
kAmx7 E96 ?6H 9@FD6 ?665D 2?J :>>65:2E6 H@C<[ E92E H:== 2=D@ 62E :?E@ E96 AC@7:ED 7C@> E96 D2=6]k^Am
k9bmx7 J@F’G6 7@F?5 J@FC ?6IE 9@>6i 4@?D:56C 2 3C:586 =@2?k^9bm
kAm~?6 @AE:@? E@ 7:?2?46 J@FC ?6H 9@>6 WH:E9@FE D6==:?8 J@FC @=5 @?6 ;FDE J6EX :D E@ 86E 2 k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^=62C?^3C:586\=@2?nFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?Ela_e`ee`U2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6?6CQm3C:586 =@2?k^2m]k^Am
kAms6D:8?65 E@ “3C:586” E96 7:?2?4:2= 82A 36EH66? 3FJ:?8 2 ?6H 9@>6 2?5 D6==:?8 J@FC @=5 @?6[ 3C:586 =@2?D EJA:42==J 92G6 E6C>D FA E@ `a >@?E9D H:E9 ?@ AC6A2J>6?E A6?2=E:6D] %@ BF2=:7J 7@C E96 =@2?[ J@FC 9@>6 >2J ?665 E@ 2=C625J 36 =:DE65 7@C D2=6]k^Am
kAmqC:586 =@2?D FDF2==J 92G6 9:896C :?E6C6DE C2E6D E92? 4@?G6?E:@?2= >@CE8286D 2?5 92G6 4=@D:?8 4@DED @7 `]dT E@ bT] %96J’C6 EJA:42==J @776C65 3J DA64:2=:K65 =6?56CD E92E 7@4FD @? 92C56C\E@\7:?5 >@CE8286D]k^Am
k9bmx7 J@F’C6 DE:== D9@AA:?8 2C@F?5i 4@?D:56C 2 wt{~rk^9bm
kAmx7 J@F’G6 8@E 2 DF3DE2?E:2= 2>@F?E @7 6BF:EJ 3F:=E FA :? J@FC 4FCC6?E 9@>6[ J@F 4@F=5 4@?D:56C E2<:?8 @FE 2 9@>6 6BF:EJ =:?6 @7 4C65:E[ @C k2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^=62C?^96=@4\9@>6\6BF:EJ\=:?6\@7\4C65:EnFE>042>A2:8?l4E0AC@5U2>AjFE>04@?E6?Ela_e`ee`U2>AjFE>0>65:F>lCDDU2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0E6C>l3=@I5:8:E2=Q E2C86ElQ0D6=7Q C6=lQ?@7@==@H ?@@A6?6CQmwt{~rk^2m[ E@ AFE E@H2C5 E96 AFC492D6 @7 J@FC ?6IE AC@A6CEJ] (96? E96 @C:8:?2= 9@>6 D6==D[ J@F’== 92G6 E@ A2J @77 E96 wt{~r :>>65:2E6=J[ 3642FD6 :E’D 2 D64@?5 >@CE8286 @? E92E AC@A6CEJ]k^Am
kAmp wt{~r >2<6D E96 >@DE D6?D6 7@C 9@>6@H?6CD H9@ 42? @A6? E96 =:?6 2E =62DE 2 76H >@?E9D 367@C6 E96J A=2? E@ D9@A] *@F’== 92G6 2 92C5 E:>6 BF2=:7J:?8 7@C 2 wt{~r 7@C 2 9@>6 E92E’D 24E:G6=J @? E96 >2C<6E[ 2?5 D@>6 =6?56CD H@?’E 2AAC@G6 2? 2AA=:42E:@? :7 E96 9@>6 H2D =:DE65 H:E9:? E96 A2DE h_ 52JD]k^Am
kAmxE 42? 2=D@ E2<6 D6G6C2= H66<D E@ 4=@D6 @? 2 wt{~r[ A2CE:4F=2C=J :7 :E’D 2 =2C86 =:?6 E92E ?665D 2 7F== 2AAC2:D2= @C @E96C F?56CHC:E:?8 C6BF:C6>6?ED] p55:E:@?2==J[ J@FC 4@F?EJ >2J E2<6 D6G6C2= 52JD @C H66<D E@ C64@C5 E96 =:6? @? J@FC 5665]k^Am
kAm*@F 5@?’E ?665 E@ 2446DD E96 42D9 C:89E 2H2J — :? 724E[ J@F D9@F=5?’E[ D:?46 J@F’5 A2J F??646DD2CJ :?E6C6DE] x?DE625[ @A6? E96 =:?6 @7 4C65:E 62C=J 2?5 H2:E F?E:= J@F’C6 C625J E@ 3FJ E@ >2<6 2 H:E95C2H2=]k^Am
kAmxE H@F=5 36 :562= E@ 49@@D6 2 =6?56C E92E @776CD 2? :?EC@5F4E@CJ C2E6 36=@H E96 AC:>6 C2E6 W4FCC6?E=J e]fdTX[ D:?46 E9:D :D =:<6=J E@ 36 2 D9@CE\E6C> =@2?]k^Am
kAm*@F’== 92G6 E@ A2J 4=@D:?8 4@DED[ H9:49 42? 36 FA E@ dT] $@>6 =6?56CD @776C wt{~rD H:E9 ?@ 4=@D:?8 4@DED[ 3FE E9:D FDF2==J C6BF:C6D E96 =:?6 E@ C6>2:? @A6? 7@C 2 46CE2:? ?F>36C @7 J62CD WEJA:42==J E9C66X] $:?46 J@F’== 92G6 E@ A2J @77 E96 wt{~r @?46 E96 9@>6 D6==D[ J@F’== 92G6 E@ A2J 324< 2?J =6?56C\A2:5 4=@D:?8 4@DED]k^Am
kAm*@F 4@F=5 36 3FJ:?8 J@FC ?6IE 9@>6 3642FD6 J@F’G6 7@F?5 J@FC 5C62> AC@A6CEJ[ @C D:>A=J 3642FD6 J@F H2?E E96 D64FC:EJ @7 <?@H:?8 H96C6 J@F’== 36 D=66A:?8 367@C6 J@F D6==] x? 2?J 42D6[ 49@@D6 2? 286?E H9@ 42? 96=A J@F ?2G:82E6 J@FC @AE:@?D[ 2?5 AFE 2 DEC2E68:4 A=2? :? A=246 367@C6 J@F >2<6 2?J @776CD]k^Am
k5:G 4=2DDlQ?H\>@C6\7C@>\?6C5H2==6EQ 52E2\?H\4@>A@?6?E\EJA6\?2>6lQ|@C6 uC@> }6C5(2==6EQ 52E2\?H\4@>A@?6?E\EJA6\D=F8lQ?H0>@C607C@>0?6C5H2==6EQmkAmkDEC@?8m|@C6 uC@> }6C5(2==6Ek^DEC@?8mk^AmkF=mk=:mk2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^?6HD^H66<=J\>@CE8286\C2E6D\g\e\aenFE>042>A2:8?l4E0AC@5U2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0>65:F>lCDDU2>AjFE>0E6C>l3=@I5:8:E2=U2>AjFE>04@?E6?Ela_e`ee`Q E:E=6lQ|@CE8286 #2E6D u=2EE6?[ 3FE %96JUCDBF@jC6 p=C625J w:896C %92? yF=JUCDBF@jD pG6C286Q E2C86ElQ0D6=7Q 4=2DDlQ?H\=:?<Q C6=lQ?@7@==@H ?@@A6?6CQ 52E2\?H\4@>A@?6?E\EJA6\?2>6lQ{:?<Q 52E2\?H\4@>A@?6?E\EJA6\D=F8lQ?H0=:?<Q 52E2\?H\EC24<\4=:4<lQ`Q 52E2\?H\EC24<\:>AC6DD:@?lQ`Qm|@CE8286 #2E6D u=2EE6?[ 3FE %96J’C6 p=C625J w:896C %92? yF=J’D pG6C286k^2mk^=:mk=:mk2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^?6HD^>@CE8286\@FE=@@<\2F8FDE\a_aenFE>042>A2:8?l4E0AC@5U2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0>65:F>lCDDU2>AjFE>0E6C>l3=@I5:8:E2=U2>AjFE>04@?E6?Ela_e`ee`Q E:E=6lQpF8FDE |@CE8286 ~FE=@@<i #2E6D w625:?8 w:896CQ E2C86ElQ0D6=7Q 4=2DDlQ?H\=:?<Q C6=lQ?@7@==@H ?@@A6?6CQ 52E2\?H\4@>A@?6?E\EJA6\?2>6lQ{:?<Q 52E2\?H\4@>A@?6?E\EJA6\D=F8lQ?H0=:?<Q 52E2\?H\EC24<\4=:4<lQ`Q 52E2\?H\EC24<\:>AC6DD:@?lQ`QmpF8FDE |@CE8286 ~FE=@@<i #2E6D w625:?8 w:896Ck^2mk^=:mk=:mk2 9C67lQ9EEADi^^HHH]?6C5H2==6E]4@>^>@CE8286D^?6HD^765\9@=5D\C2E6D\C:D6\f\ah\aenFE>042>A2:8?l4E0AC@5U2>AjFE>0D@FC46lDJ?5:42E:@?U2>AjFE>0>65:F>lCDDU2>AjFE>0E6C>l3=@I5:8:E2=U2>AjFE>04@?E6?Ela_e`ee`Q E:E=6lQu65 s:5?UCDBF@jE #2:D6 #2E6D p7E6C p== U>52D9j (:== |@CE8286 #2E6D u2==nQ E2C86ElQ0D6=7Q 4=2DDlQ?H\=:?<Q C6=lQ?@7@==@H ?@@A6?6CQ 52E2\?H\4@>A@?6?E\EJA6\?2>6lQ{:?<Q 52E2\?H\4@>A@?6?E\EJA6\D=F8lQ?H0=:?<Q 52E2\?H\EC24<\4=:4<lQ`Q 52E2\?H\EC24<\:>AC6DD:@?lQ`Qmu65 s:5?’E #2:D6 #2E6D p7E6C p== — (:== |@CE8286 #2E6D u2==nk^2mk^=:mk^F=mk^5:Gm
k5:G 4=2DDlQ?H\2FE9@C\3@I\HAQ 52E2\?H\4@>A@?6?E\EJA6\?2>6lQpFE9@C q@I \ (!Q 52E2\?H\4@>A@?6?E\EJA6\D=F8lQ?H02FE9@C03@I0HAQmk5:G 4=2DDlQ?H\2FE9@C\3@I\HA\\:??6CQmk2D:56 :E6>D4@A6lQQ :E6>AC@AlQ2FE9@CQ :E6>EJA6lQ9EEAi^^D496>2]@C8^!6CD@?Q 4=2DDlQ?H\2FE9@C\3@IQ 52E2\?H\4@>A@?6?E\EJA6\?2>6lQpFE9@C q@IQ 52E2\?H\4@>A@?6?E\EJA6\D=F8lQ?H02FE9@C03@IQmkAm%2J=@C v6E=6C HC:E6D 7@C }6C5(2==6E] t>2:=i k2 9C67lQ>2:=E@iE86E=6Co?6C5H2==6E]4@>QmE86E=6Co?6C5H2==6E]4@>k^2m]k^Amk^2D:56mk^5:Gmk^5:Gm
kA 4=2DDlQ?H\@C:8:?2==J\A@DE65\=:?<Qm%96 2CE:4=6 w@H E@ qFJ 2 w@>6 q67@C6 *@FC ~=5 ~?6 $6==D W(:E9@FE v@:?8 qC@<6X @C:8:?2==J 2AA62C65 @? }6C5(2==6E]k^Am
