Contingency Clause for New Home Purchase?

Real Estate Agent with Florida Homes Realty and Mortgage

Contingency Addendum


Most people who are considering upgrading to a new home here in Ocean Ridge begin their home search before they have sold their existing home. What do you do if you’ve found the perfect new home but still need to sell your existing home first? Consider adding a contingency clause to your Purchase and Sale Agreement. Not every new home builder will do this, however at Riverside Homes at Ocean Ridge, we understand that a contigency will help move-up buyers feel secure in purchasing their new home here.


Using a contingency will safeguard you in the purchase of a new home that has not been built.  You will be able to secure the homesite and floorplan that you love with today’s pricing. Riverside Homes funds all of our builds in Ocean Ridge.  With as little as 10% down, you won’t have to get a construction loan, or pay monthly interest payments during the year it takes to build.  You pay for the home when it is complete and ready for your move in!


Riverside Homes makes securing favorable financing easier through our Preferred Lenders, and when you use one of them, Riverside Homes will pay $7,000 of the closing costs on the purchase of your new home. We have the experience and expertise to help prospective homebuyers through the entire process. Our preferred lenders have knowledge and experience with a wide array of new home financing options, and they will help you find the right mortgage to fit your needs.  And, if we can get a pre-approval on your loan while you are selling your current home, Riverside Homes will get started building your new home while you are selling your old one.  It takes about one year to build a home in Ocean Ridge, giving you that much more time to sell.


Riverside Homes will work with you on a contingency clause to make sure you get the home of your dreams even if you still need to sell your existing home.  I’ll be happy to discuss this in more detail with you, please give me a call. 

Posted by

Marjorie Taylor, Broker Associate

Marjorie Taylor, is a licensed Real Estate Broker Associate with Florida Homes Realty and Mortgage.  Representing the North East Florida area. A community leader, active in the St. Augustine Regional Council, Taylor is past Director and Technology Committee Chairman of the St. Augustine St. Johns County Board of REALTORS.  A Certified Home Stager, she is professionally educated and trained, having earned the designations of CDPE, CRS, CSP, e-PRO, GREEN, GRI, TRC.

Marjorie is passionate about St. Augustine and the needs of her clients. Past recipient of the Entrepreneur of the Year - Women’s Council of REALTORS St. Augustine Regional.


Comments (2)

John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Marjorie Taylor very valuable report about contingency clause for a new home purchase.

Feb 04, 2019 02:58 PM
Marjorie Taylor
Florida Homes Realty and Mortgage - Saint Augustine, FL
New Homes in St. Augustine Florida

Thank you John!

Feb 04, 2019 03:38 PM