Should I add a Contingency Clause to a New Home Purchase?

Real Estate Agent with Florida Homes Realty and Mortgage

90 Ridgeway Rd.Most people who are considering upgrading to a new home, or are relocating because of job or military transfer, begin their home search before they have sold their existing home.


What do you do if you’ve found the perfect new home in Ocean Ridge but still need to sell your existing home first?


Consider adding a contingency clause to your New Home Purchase and Sale Agreement.


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 their 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 their Preferred Lenders, and when you use one of them, you will receive $7,000 towards the closing costs on the purchase of your new home.  Preferred Lenders have the experience and expertise to help prospective homebuyers through the entire process. They have experience with our new home construction process and a wide array of financing options. They will help you find the right mortgage to fit your particular needs.


Additionally, 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)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Margorie, most of our builders have their "builder contract", and nothing can be added or subtracted.  There usually is a paragraph for the contingency and when it has to be removed.

Apr 28, 2019 12:08 PM