Needing to brush up on “contingent sales” (when a Buyer agrees to buy a home contingent on selling their current one), I hit the Internet in search of useful insights the other night.

Mostly, what I found was misleading or wholly inaccurate information.

dominoesBut, I did encounter this nugget:  apparently, somewhere in California recently no fewer than nine(!) homes were all linked together by contingencies.

That is, Home #9 would close only if Home #8 did, Home #8 would close only if Home #7 did, and so and so on.

Sure enough, the deal to buy Home #1 hiccupped, threatening to derail the whole chain of sales.

The Realtors’ solution?

They all combined to buy Home #1 — which apparently was quite modest — to keep all the other deals intact.

Way to earn that commission!

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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