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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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| Q |
What U.S. state is home to the world's richest woman?
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| A |
Alice Walton, daughter of WalMart's founder and heiress to $16.5 billion, lives on a ranch in the state of Texas. |
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The Jodi Power Team
Keller Williams Realty
4725 Veterans Blvd.
Metairie, LA 70006
504-261-5247
Fax: 504-281-4622
jodipower@NUMBER1EXPERT.com
The Jodi Bruno Power Team Members are Americas Number One Experts in the New Orleans Metropolitan area including Uptown, Lakeview, Metairie, Kenner, North Shore, Slidell and Covington. We are all experts in relocating too.
Jodi and Brett Power have over twenty years of combined experience investing and selling real estate. Jodi has been a consistent top sales producer in all of her work experience. We offer professional expertise in all areas of Real Estate. Please access “Meet our team” to see all of our licenses and qualifications. We are aggressive in our approach to get the job done for you. Our service and knowledge are second to none. Our goals are simple….. They are yours. We guarantee a quick response. Call us today.   
 
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