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Real Estate Tips

Real Estate Contracts >Contingency Sale

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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Real Estate Trivia

Q 
Where is the world's largest wine cellar, and how big is it?

A 
A company in the center of the wine-growing district of South Africa has a cellar that covers an area of 54 acres and has a capacity of 27 million gallons.
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Roxanne DeBerry, REALTOR®, real estate agent and broker for Allen, Plano and North Dallas, Texas home listings, property and land for sale - NUMBER1EXPERT

Roxanne DeBerry
Keller Williams Realty-Plano

3608 Preston Rd. Ste. 230
Plano, TX. 75093
Agent Phone: 214-676-8040
Voice Mail: 972-733-9250
Office Phone: 972-943-7377
Email: rdeberry@realtor.com

Roxanne DeBerry has over 20 years of real estate experience in Dallas and Collin county. She is committed to staying on top of the real estate market at all times through continued growth and state of the art technology. Call Roxanne DeBerry today! Her professional team will give you that personal touch in your real estate needs!

CRS ePro Equal Housing REALTOR RELO


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