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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 
Which nation, fueled by an oil and manufacturing boom, claims the world's longest building?

A 
The "Linear City" of Malasia is currently the longest.
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Delores A. White, REALTOR®, real estate agent and broker for Gatlinburg, Pigeon Forge and Sevierville, Tennessee home listings, property and land for sale - NUMBER1EXPERT

Delores A. White
Thompson Carr Real Estate LLC

1148 Wagner Dr. Suite 101
Sevierville, TN 37682
Delores Mobile Office: 865-850-4264
Fax: 865-774-5358
Office: 865-774-5338
Lisa's Mobile: 865-654-8280
deloreswhite@NUMBER1EXPERT.com
deloresawhite@cs.com
lisarhatcher@gmail.com

When choosing The Delores A. White Team as your Realtor, you will be getting agents with over 20 years combined experience, recognized with honors, a Certified Resort Property Specialist, a Certified Accredited Buyers Agent, A Certified Short Sale And Foreclosure Specialist and a Top Producer in the entire Mid-South Region.

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