During the past few years, the market has been so hot - so many buyers were “throwing” money at sellers and sellers were getting 6 and 7 offers - no buyer with a house to sell had a chance to get his offer accepted.
Times have changed. Buyers now have a change to get an offer accepted CONTINGENT upon the sale of their home.
Kris Berg of San Diego Home Blog provides a nice explanation of this contingency and process.
2 responses so far ↓
1 Kris Berg // Mar 6, 2009 at 12:11 pm
Although the contingent (accepted) offer is still a rare breed, we are starting to see more of these. With market times increasing and buyers continuing to dig their heels in on the sidelines (particularly at the higher price points), a contingent offer can suddenly look not too shabby to the worn-out seller.
Thanks for the linkeroo, Arn!
2 Arn Cenedella // Mar 6, 2009 at 2:36 pm
Kris
you are exactly right, in the current market we will see many more contracts contingent upon the sale of buyer property.
“what goes around comes around, just like in fashion”.
Arn
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