I have a home listed in Fresno that is currently in escrow with a contingency of the buyer selling their home. What that means is that my seller doesn't have a sale until the buyer does. There lies the rub. Many people are in the position of having to sell first, then buy. Why would a seller accept such a thing? For one, it is a prospective sale. Someone has enough interest in the home to actually make an offer and put their own home on the market. Two, no one else has made a better offer. As a seller you'd better look at the bird in the hand. It could be all you get. For the buyer, it may be their only way of buying the house they want.

It can be a roller-coaster of emotions for all parties including the agents who have worked so hard to market the homes. The marketing continues as after a period of time, the seller can look at and accept a backup offer. Backup offers could also have contingencies and or be at a lower price than the original offer. A seller, sitting with an unsold house should carefully consider any offer that doesn't contain contingencies.

The hard part in today's market is getting any offer within reason as buyers know they're in the drivers seat. They may be wondering where the bottom of the market is. Good question. I don't know either. You buy when you need to and sell when you need to. Trying to time a market is best left to the experts who are wrong probably 80 % of the time anyway.

So, back to this home I have in escrow. We are now looking at backup offers and are hoping that cash buyer is lurking in the home buying shadows. Or, if not a cash buyer, the one with the ability to get a home loan. This home has already been appraised, termite certificate, and a willing and cooperative seller. Although we like the current buyer and hope they can come through, it is incumbent upon me, the listing agent to do what's best for the seller.

Bob Volanti

559-313-0444 www.getbobv.com