Choose wisely when considering contingencies on a contract offer! I tell my buyers that time and again.
A good example is a home that I currently have listed. We have two offers that came in within the last 24 hours. One is a good offer to close within 6 weeks and has no contingencies, the other one wants 8 weeks to close with the contingency that the buyer sells her current home. Needless to say, that one contingency is going to mean that she has no chance in getting the home my client is selling.
I do understand that she needs to sell her home and that she really wants to purchase the home we have for sale but this one contingency is putting the death nail on the offer.
In the current market, homes that are in move in condition and priced right are flying off the market. That means those who must have contingencies are being shut out. It is a hot market and getting hotter here in the Sunshine State. People realize that prices are going up and they have already missed the bottom of the market. It is a now or never situation for many!
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