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Real Estate Contract – Right of First Refusal – Who Benefits?
This post came about because of one by Jessica Horton entitled, "Why put a carton of milk on layaway when your old dairy cow doesn't have any takers?"  In it she discussed about receiving a lot more real estate contracts as of late with contingency clauses for the sale of a buyer's home with no kick-out clause.
Let me preface this by stating that I make it a point to follow-up and follow through.  From the get go I get the buyers information in regard their lender, etc. and put calls through until I hopefully get more information back.  For the many that have come to know me, I do not like surprises and I can only gather that my sellers would not be too thrilled with them either.
Considering the present market conditions, I will not take a home off of the market if there is a contingency clause for the sale of the buyer's home.  For the purposes here, I'm assuming the fact that the buyer's home is already listed with a real estate professional and priced accordingly for the market.  Granted, I would prefer it to be under contract and then obviously feel better about the situation.  Of course ... more

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