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Real Estate Contracts >Contingency Contracts

Buyers walk into your home in your area and fall in love with it. There is one problem--they will have to sell their home before they can buy yours. Their offer contains a contingency clause which makes the purchase dependent upon selling their present home. Should you accept such an offer?

Your decision should be based on several factors. Is their home being professionally marketed at this time, or are they trying to sell it themselves (a risky proposition!)? How long has it been on the market? Is it overpriced? If the house doesn't sell, can the buyers take out a bridge loan or make other arrangements to get to the closing table? How important is timing for you? Will the buyers agree to let you continue marketing your home and accept a non-contingent contract (and void theirs) if their house does not sell? Contingent contracts often work out well, but you need the help of a professional to weigh the pros and cons.

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Q	What house is considered to be the first house with running water in America?
A	John Headly's home built in Newport, RI in 1723, was equipped with an underground pipe from the nearby spring.
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Mike Hicks, REALTOR®, real estate agent and broker for Idaho Falls Idaho home listings, property and land for sale - NUMBER1EXPERT(tm)

Mike Hicks
Keller Williams Realty East Idaho
3525 Merlin Drive
Idaho Falls, ID 83404
Office: 208-529-8888
Home Office: 208-227-5320
Fax: 208-529-8893
Email: mikehicks@kw.com
Email : idahofallsmike@gmail.com
A Tennessee native, when you get Mike you get someone who fosters the idea of Southern Hospitality combined with the comforting knowledge that all of the details will be closely managed. Honesty, integrity, trust, dependable, thorough, personable, incredible experience and highly professional are some of the words & phrases commonly used by clients and peers to describe my service. We have to prove those high levels each and everytime we help someone whether it's simply to answer questions or to assist through a real estate event. There is no higher testament to our high service levels than the fact over 90% of my business comes from repeat and referred clients. Give me a try and find out why!

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