Profile picture for Deanne_OR

Success rate of contingent offers

About how often do contingent offers lead to a sale? I'm negotiating on a contingent offer for my house, but the price is a bit lower than ideal. I went to see the potential buyer's house. It's in a good area and seems to be well-priced, but it only has one bathroom, no garage, and no AC. I'm only giving her a month to sell her house. I'm not sure what I'm really asking. I guess whether I should concede to the buyer too much for a sale that isn't likely to happen anyway.
  • September 11 2007 - US
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Answers (8)

dont concede too much and if you dont feel confident that the house well sell...then maybe you should rethink. What does your agent think? Many time people wont even want to look at anyhouse that has a contract on it, even if it has a kickout.

What about that other idea you had. Have you decided against it? Don't you think if you cleaned up the kitty and dog smell you'll have much better reviews? This is a hard think Deanne...dont be hasty. Really talk with your agent about the likelihood of that other house selling.
  • September 11 2007
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Profile picture for Deanne_OR
I think my other idea will fall through. :-( I'll get a definitive answer tomorrow, but my lender called and said he might only be able to get me a 95/5 loan instead of an 80/20. 5% isn't really *that* much in the scope of things, but that's the money I'd planned to use to be able to afford two mortgage payments. I'll find out what the loan payments would be before I decide, but I won't do anything to put myself at financial risk.

I've done just about everything I can think of to handle the cat / dog odors. It's only a very few people who still comment on it right now, but one of those few might otherwise be *the* one. My biggest concern is with what will happen with odors next month when I have to move the litterbox and dog crate into the house from the garage so I can turn on the heat.

I think I'll counter the contingent offer. My realtor said he thought the buyer will reject it if I do, but I guess that means she doesn't want the house very badly.
  • September 11 2007
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If you arent comfortabel with it counter it.
  • September 11 2007
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Profile picture for Deanne_OR
I'm torn between countering it and rejecting it without a counter. I won't accept it as it is.
  • September 11 2007
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Profile picture for Justsellit
The question is how long can you wait for the other house to sell? You could be trapped into waiting for the month or longer and miss other opportunities. What if the buyer is not as motivated to sell unless they get what they want for their house knowing they have the house they want locked.
  • September 11 2007
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Profile picture for bethrahrig
We were under contract that we thought was shakey. So our realtor let the buyers agent know that she would not be changing how it was listed. If would just show for sale, not pending. I don't know if there is a law in your area that says they MUST change how it's listed.

We continued showing it.
  • September 11 2007
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Deanne, don't reject it outright - always counter.
  • September 11 2007
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Profile picture for Lisa Jonz
Marci's right. You need to counter.

Bethrahig,

Here - pending is pending not matter what.
  • September 11 2007
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