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Real Estate Tips
Real Estate Contracts >Contingency Sale

Sellers may be reluctant to accept an offer that is contingent on the sale of another property. However, such a sale can be structured to minimize the risks.

The seller should put a limit on the amount of time that the buyers have to accept an offer, and they should keep their home on the market during that time. They should also reserve the right to require that any contingencies be met within a short period of time, ideally 24 to 48 hours, if they get a second offer. This is called a "First Right" contingency.

Contingent sales can work well for the sellers. The buyer is not in a position to ask for concessions on price or terms and may be able to get interim financing. Each situation is different, however, so go over the terms with your real estate agent before accepting a contingent offer.

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Real Estate Trivia
Q 
What four states in the Southwest are noted for having boundaries that touch.

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New Mexico, Arizona, Utah and Colorado, referred to as the "Four Corners", have adjoining boundaries.
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Cynthia Guerrero, REALTOR®, real estate agents and broker for Orlando, Windermere and Lake Nona, Florida home listings, property and land for sale - NUMBER1EXPERT(tm)

Cynthia Guerrero, and Gabriela Coban
Castle Realty

4700 Millenia Blvd Suite 175
Orlando FL 32839
Cynthia's Direct Line: 888-500-7751
Gabriela's Direct Line: 407-492-0570
Cynthia's Email: CynthiaG@onebox.com
Gabriela's Email: gcoban@ten-global.com

"I did not believe in Realtors until I met Cynthia. Cynthia saved us money throughout the process. I did not realize we could save money using a Realtor, until now." Rick-New Independence Resident

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