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, ideally 24 to 48 hours, if they get a second offer. This is called a "First Right" contingency.

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.

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Hildi Baker , CSP, ABR, CRS
Prudential Fox and Roach Realtors
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Hildi Baker is a full-time Realtor with over 20 years experience who is a recipient of many Multimillion Dollar Producer Awards as well as multiple Service Awards. The CSP designation was awarded to Hildi by the Home Builders Association of Chester and Delaware Counties making her a Certified New Home Sales professional. With honesty and integrity Hildi's team will employ vast Real Estate knowledge to provide you with excellent customer service in a timely and caring manner that produces exceptional Real Estate results.

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