Avoiding the “Contingency Premium” “We may be small, but we’re slow.” —Cal Tech football team slogan. If you were a home seller, how much extra would you want in order to assume the risk that your Buyer could successfully sell their current home in a timely fashion ” the standard Contingency is 60-90 days ”...Read More
Avoiding the “Contingency Premium” “We may be small, but we’re slow.” –Cal Tech football team slogan. If you were a home seller, how much extra would you want in order to assume the risk that your Buyer could successfully sell their current home in a timely fashion — the standard Contingency is 60-90 days —...Read More
At Least, the “C” is Easy Even for a veteran Realtor like myself, it’s still possible to be thrown (at least occasionally) by an obscure real estate term. Case in point: the MLS status “C-APPRE,” which popped up in the archive history of a Linden Hills home that my Buyer client is interested in. On a weekday,...Read More
MLS: “An Offer Has Been Accepted Contingent Upon: Sale of Another Property” In a non-Contingent offer — also just called a regular offer — the prospective home Buyer represents that they can perform (= pay) without first having to sell another home. Ergo, a Contingent offer is one in which they have to sell their current home...Read More
Will the Backup House Sell in Time? In addition to the usual contingencies for Inspection and Financing, the Buyer making a Contingent offer for a house is adding a third, big one: that’ll they’ll be able to sell their current home — what Realtors call “the backup house” — within 60-90 days. In turn, the salability of...Read More
“I Know that Block!” Perhaps the key to what Realtors call a Contingent Offer (one where the would-be Buyer first has to sell their current home) is . . . surprise, surprise . . . the Buyer’s current home (referred to as “the backup home”). Specifically: –Where is it? –What kind of shape is it in?...Read More
