Today I feel like a kid in junior high who's buddy just said, "Hey, you just won something -- sike!" (We used to spell it that way in school, but I've already been informed other areas spell it the real way, so PSYCH!)
I've been working two deals simultaneously. My client contracted on a home contingent on the sale of their primary residence. We didn't even have a contract on the primary residence when we contracted. In fact, we told the listing agent we wanted to make an offer, then if they are ok with a contingency, we would place ours on the market, very good price, incentives, etc., priced to sell, but we wouldn't do one without the other. It worked. Fan-tas-tic!
We had the home on the market only a couple of weeks and had loads of interest. I received an offer last week and negotiated a few parts and eventually came to terms. Just before executing it -- Mayday.
The house we are buying has a kickout clause. They have negotiated another deal with another buyer. We are given notice, after all our hard work and perfect timing, that the contingency must be waived or terminate the contract. We can't waive. We would lose so much if our buyer deal fellout. So we cancelled. Bummer.
I thought this was going down as the best orchestrated deal ever in my career. The good news is my client will still execute the sale of their primary and live elsewhere while we find another. Some days are a big fat SIKE! (But that's ok -- we can deal, right?)