Real Estate sales begin in every case with a contract, the seller and sellers agent will sign a listing agreement that details what the seller is expecting from their agent and what the agent will hopefully provide.
It is a strange world out there and it is tough to imagine all the things that might happen but the list is very long. possibly starting with the seller, not actually owing the property. Go imagine.
Successful marketing of the property will then result in multiple offers to purchase and that is where this word comes into play.
Contingency
There are multiple types of contingencies that may be mentioned but all of them typically make an offer just a little weaker. The strongest offer is a cash offer, quick close, "AS-IS" (no repairs) and buyer paying all closing costs. In 24 years of of being a broker, I have never had one of these types of offers.
Other types of contingencies range from a very common financing contingency. The buyer needs to get financing, the sale of another property. A viewing contingency is common where an offer is made sight unseen because of being a very hot market and the buyer wants to tie it up until they can view. Home inspection and appraisal contingencies are quite common also.
It is an interesting world of real estate and that is another reason why you need to shop for a Realtor to work with you. Experience does matter.
Worried about meeting your transaction contingencies in order to have a smooth home sale?
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