Contingent Offers Are Tough Enough in Sacramento Without This

By
Real Estate Agent with RE/MAX Gold DRE #00697006

Sometimes I ask sellers if they would like me to hold on to their accepted offer for a few hours just in case another offer comes in. Because once I send it to the buyer's agent, it is delivered and they are in contract. This can happen on a Sunday, for example, when we receive an offer before the open, because many buyers may come through open houses on that day, and they often tour without their agent in tow. Of course, we ask buyers if they are working with an agent because we're not about to tread on another agent's buyer and we respect their existing relationship, should they have it.

Buyers have been known to say they are working with an agent, but when we ask who is the agent, they suddenly cannot recall the name. Still, we try to treat all parties fairly and equally. Which means if they are touring an open house when we've already received one offer, we always let them know that we have an offer pending and will consider all other offers immediately after the open house.

This means generally by 5:00 or 6:00. It does not mean by midnight or by sometime the following day. You can read more in my personal blog today about this at the following link: Making a Contingent Offer When Your Home is Not Yet on the Market.

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Weintraub and Wallace Realtors

 

 

Elizabeth Weintraub reviews

 

 

 

Elizabeth Weintraub is co-partner of Weintraub & Wallace Team of Top Producing Realtors, an author, home buying expert at The Balance, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown, Carmichael and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Call Elizabeth Weintraub at 916.233.6759. Put our combined 80 years of real estate experience to work for you. Broker-Associate at RE/MAX Gold. DRE License # 00697006.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of RE/MAX Gold. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Topic:
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California Sacramento County Sacramento
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Tags:
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contingent offers
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Rainmaker
1,317,758
Nick T Pappas
Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Hun... - Huntsville, AL
Madison & Huntsville Alabama Real Estate Resource

Elizabeth, well I find with buyers you have to spell it out for them sometimes. Too many feel they have all the time in the world or the seller will put everything on hold for their offer. It just isn't that kind of market these days.

Oct 05, 2015 09:54 AM #1
Ambassador
3,090,260
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Home sale contingencies are hard to get a seller to accept.  And even worse when the home isn't yet listed.  Buyers seem to not want to take the leap of faith of selling their current home first, but expect sellers to take the leap that the buyers home will sell and agree to wait for them.  Not happening.

Oct 05, 2015 01:09 PM #2
Rainmaker
107,574
Gilbert Real Estate Experts: Colby & Michele Myers
Orange Realty, LLC. - Gilbert, AZ

This is great information, and I like the link you sent me to.  It was so colorful and inviting, I wanted to keep reading.  Thanks for the posting. 

Oct 05, 2015 02:00 PM #3
Rainmaker
2,256,140
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Elizabeth. I run into this issue many time when doing a pre-qualification. Sometimes the math just doesn't work without the contingency for the sale of the current residence.

 

 

Oct 05, 2015 07:46 PM #4
Rainmaker
2,913,632
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning Elizabeth.  I have never had a contingent offer come in on one of my properties.  I might add once the offer has been accepted I never have had one cancel 

Oct 05, 2015 09:02 PM #5
Rainmaker
4,797,311
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have had a number of buyers ask me to write these types of offers.  Though, they really aren't buyers, they are more like the phishing emails we get all the time.

Oct 05, 2015 09:58 PM #6
Rainmaker
4,079,154
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elizabeth, I have had many "buyers" ask if they can go out and look for homes prior to putting their home on the market.  If they have to sell, they are not buyers.    In our market, many times multiple offers will be submitted, and the listing agent will answer when they feel like it --- not at the response time on the offer. 

Oct 05, 2015 11:20 PM #7
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