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Should I consider accepting contingent offers from buyers?
Should I consider accepting contingent offers from buyers? I'm not sure how this process works. What if a better offer comes in after I accepted an offer?
Asked By Levi | San Diego, CA | 169 views | Selling | 9 months ago
Answer(3)
Marty & Abby Champagne
RE/MAX Market Place
Well, if you do not have any other offers that is totally up to you to accept an offer with contingencies. It is a gamble, because yes, something could come in better or something might come in lower.
- 8 months ago
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Jamie Merwin
ZMD REALTY
Pros: Accepting a contingent offer means you don’t have to take your home off the market quite yet, since the conditions of the deal haven’t been met. If the buyer backs out of the deal, you can sell without having to re-list. In certain cases, some buyers may be willing to pay extra to have their contingent offer met.
Cons: Home sales with contingent offers are usually slower than those without. It takes time to satisfy a buyer’s contingencies and additional time to communicate that they have been met. And of course, there’s always the risk that the deal could fall through.
As always, trust your agent for guidance when facing contingent offers.
- 8 months ago
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David Gubler
IML Real Estate
if you have received multiple offer, as is very common in San Diego area at this time, then you probably would not/should not consider a contingent offer.
- 8 months ago
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