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Home sale contigency??

We have currently put in a bid on a house that is under contract to another buyer, however their bid comes with a home sale contingency clause with a 72 hour first right of refusal. We are waiting anxiously to hear back. What do you think our chances of getting the home are?
Thanks!!!
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March 13 2012 - Philadelphia
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Answers (7)

Profile picture for SoCal_Engr
Curious...what happened?
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March 25 2012
Alway put your hat in the arena..in Real Estate if you do not play you can't win ....stay in their untill you here you have on opportunity to have your offer reveiwed
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March 25 2012
If the other buyer has a house that is in escrow and their offer is very good in terms of price, then the seller may want to stick with it. However, if other buyer's house is not yet in escrow and your offer is very good also, the seller may, after the 72 hours, prefer to go with your offer instead of waiting for the sale of another house, which may or may not happen.
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March 13 2012
If the folks that had the 72hour first right, did not already have a plan"B". Then I give you a 99% chance of getting it.
Ask your agent to ask the listing agent if they are working on their option or not.
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March 13 2012
Exactly 72 hours stands between your offer and the other buyers' decision to remove their kick-out clause.  Usually this type of contract occurs when the buyers have another property to sell, when your offer arrived the buyers were given 72 hours to respond.  They can get a bridge loan...or whatever other option they may have.  If they do not remove the contingency then the sellers can entertain your offer.  Good luck!
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March 13 2012
Profile picture for user821021
Thanks for the positive vibes.  Fingers crossed!!!
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March 13 2012
Profile picture for wetdawgs
There are too many variables to even guess.   Good luck!
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March 13 2012
 
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