I’ve noticed a trend in Walnut Creek Real Estate. Many offers are being delivered with contingency offers attached. The chances of these offers being accepted are very, very slim. While it isn’t impossible, it isn’t very plausible, either. Luckily, I have access to resources that can help those seeking to move out of a home / into a home on a contingent offer. If you want to know more about this in detail, contact me.
In the meantime, let me address a couple of things about contingent real estate offers;
1. Contingent offers are not all the same. In fact, many are based on offers- not waiting for one property to sell so the party can buy another. Sometimes a buyer is interested in a property, but finds out the seller has a contract with another buyer. Since there’s a chance that deal could fall through, the second buyer can make an offer contingent on the first contract failing to close. Sellers usually like these contingencies because it makes it easy to pursue another buyer if the first one doesn’t work out.
2. 3rd party financing options. Per the Star Telegram, this is defined as, “A third-party financing contingency can benefit buyers. If buyers can’t obtain financing and properly notify the seller within the time frame outlined in the agreement, they will be relinquished from penalties, including forfeiture of earnest money and the obligation to purchase the property.”
This brief overview doesn’t begin to address all the issues or questions or just ‘need to know’ info. associated with making or accepting a contingent offer. I’m always happy to sit down with you at a local coffee shop and discuss specifics, details, and how I can help.