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.
But, 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!
