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Answers (7)
- Pasadenan
- Contributions:21432
"or soon will be" -
I should qualify; I'm hoping to sell my home "in the near future" to move elsewhere, BUT present obligations prevent me from moving for the foreseeable near term. So "near future" may mean as little as 3 years, or it could mean up to 15 years from now. And there can be a lot of "life changes" in between that could change expectations.
I'm more likely to buy a home for a future move before actually putting my home on the market.
But I do have a "make me move" set on my house, just in case someone really wants me out sooner.
I should qualify; I'm hoping to sell my home "in the near future" to move elsewhere, BUT present obligations prevent me from moving for the foreseeable near term. So "near future" may mean as little as 3 years, or it could mean up to 15 years from now. And there can be a lot of "life changes" in between that could change expectations.
I'm more likely to buy a home for a future move before actually putting my home on the market.
But I do have a "make me move" set on my house, just in case someone really wants me out sooner.
- SoCal_Engr
- Contributions:5661
Just to re-set expectations...
If you are, or soon will be, selling your house, please contribute - whether "Joe Consumer" or REA..
If you are an REA and feel the need to dispense "helpful advice", please start another thread.
I realize that this is an open forum, and it is not possible to control the content of posts. However, prior experience says that REAs will start posting to each others post (i.e., contradicting, supporting, or extending the other's post), and the consumer's posts get lost.
If you are, or soon will be, selling your house, please contribute - whether "Joe Consumer" or REA..
If you are an REA and feel the need to dispense "helpful advice", please start another thread.
I realize that this is an open forum, and it is not possible to control the content of posts. However, prior experience says that REAs will start posting to each others post (i.e., contradicting, supporting, or extending the other's post), and the consumer's posts get lost.
- Jim Basquette CRS, CNE, "Jim Basquette"
- Contributions:1231
I would accept a contingency notice but only with deadline and a "no notice" clause where the seller can keep the home on the matket and accept another offer for any reason without notice.
In a "no notice" offer you are also free to accept other "no notice" contingency offers. If any notice is required you cannot.
In a "no notice" offer you are also free to accept other "no notice" contingency offers. If any notice is required you cannot.
- Sherri Bloom, "Sherri Bloom"
- Contributions:60
Most of the advice is good so I will only add one thing. Make sure their is a timeline associated with the contingency. How long is up to you, but I would make it no longer than 2-3 months.
Good Luck
- wetdawgs
- Contributions:26784
As a person planning to sell a house in the next year or so, I would accept a contingency clause with a couple of caveats.
a) I must be able to continue to market the home and accept another offer if it isn't contingent.
b) The potential buyers already have their house on the market.
c) There is a deadline
a) I must be able to continue to market the home and accept another offer if it isn't contingent.
b) The potential buyers already have their house on the market.
c) There is a deadline
- ConnieK_Oklahoma
- Contributions:2896
hope it's ok for me to answer...afterall I'm about to sell my house.
I have no problem with it, but here it is fairly common practice to accept one and continue to market it as active with a 72 hour kickout clause. The condition is that the seller can not issue the kickout to accept another offer that also has a contingency, it has to be a bonafide offer with no contingency upon selling.
Nobody wants to have two mortgages, so there are many buyers that have to sell before they can buy and who wants to move twice!
I have no problem with it, but here it is fairly common practice to accept one and continue to market it as active with a 72 hour kickout clause. The condition is that the seller can not issue the kickout to accept another offer that also has a contingency, it has to be a bonafide offer with no contingency upon selling.
Nobody wants to have two mortgages, so there are many buyers that have to sell before they can buy and who wants to move twice!
- Pasadenan
- Contributions:21432
In this market, "no". It is much more likely to find some offers from other buyers than to "hope" that the buyer will find another buyer in time.
Sure, if accepting the offer means not taking it off the market, and being able to sell it out from under the potential buyer in a given time frame... but that creates issues with inspections and other expenses to the potential buyer.
In a "normal" market, where anything priced right sells in 6 months or less, I wouldn't mind.
Sure, if accepting the offer means not taking it off the market, and being able to sell it out from under the potential buyer in a given time frame... but that creates issues with inspections and other expenses to the potential buyer.
In a "normal" market, where anything priced right sells in 6 months or less, I wouldn't mind.
Sellers - Would you accept an offer contingent on the sale of the buyer's house?
If seems a small risk, other than the contingency, if it is a decent offer. I'd reserve the right to continue marketing/showing (i.e., not pull the listing based on the contingent offer).
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