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How Does a Sale of Home Contingency Work?

March 18, 2021

Sellers may be reluctant to accept an offer that is contingent on the sale of another property. However, such a sale can be structured to minimize the risks. The seller should put a limit on the amount of time that the buyers have to accept an offer, and they should keep their home on the market during that time. They should also reserve the right to require that any contingencies be met within a short period of time, such as within 72 hours, if they get a second offer. This is most commonly called a "72 Hour Kick Out Contingency" among other names. Contingent sales can work well for the sellers. The buyer is not in a position to ask for concessions on price or terms and may be able to get interim financing. Each situation is different, however, so go over the terms with your real estate agent before accepting a contingent offer.

To Learn More, Contact Bill Cullin Today.

Call or text Bill Cullin at 302-841-7147 today!

Bill Cullin
Your Real Estate Source at the Delaware Beaches
Websites:
www.DelawareBeachRE.com
www.TheHenlopen.com
Cell: 302-841-7147
Office: 302-227-2541
Toll Free: 1-800-GO-BEACH, ext. 117
Fax: 302-227-8165
Long and Foster | Christies International Real Estate
37156 Rehoboth Avenue Ext, Suite 5
Rehoboth Beach, Delaware 19971

• Top Individual Agent Long & Foster Rehoboth Office for 13 consecutive years
• Long & Foster’s Top Selling Individual Agent in the entire State of Delaware for 2 consecutive years
• Long & Foster’s Top Selling Individual Agent in the Coastal Region for 3 consecutive years
• Five Star Professional Award Winning Sales Agent (based on client surveys) for 6 consecutive years
• Member of Long & Foster’s Gold Team. Founders Club Level, with sales volume of 10 to 20 million dollars per year. For 6 consecutive years.
• Zillow.com and Trulia.com 5 Star Professional 10 Consecutive years with Best of Zillow designation be awarded last year. Click Here for see client reviews online
• Top Selling Agent at The Henlopen Condominiums over the past 13 years

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