Contingent offers are generally less compelling for seller than a non-contingent offer for the reasons stated in our previous post, but there are some variables that can make your contingent offer more enticing:
Market Conditions
Market conditions can be huge contributing factors to the likelihood of a contingent offer being accepted. Sellers may be more open to a contingent offer during a slow time of year because there may be less buyers in the market.
Time on Market
If the property has been on the market for a relatively long time, sellers may also be more willing to accept a contingent offer.
Status of Your Property
Sellers want to see that your property is already in escrow. If not, they would at least like to see it listed for sale. It instills more confidence when your house is priced to sell and will not be sitting on the market for a long time.
If your home is not yet for sale, the seller may like to see that their agent will list your property. The seller already has confidence in their agent to get the job done.
Short Contingency Period
Sellers will also want to see as short of a timeline as reasonably possible. The longer the contingency period, the longer the property is tied up in a risky escrow.
Sale Price
More than anything else, sellers want the highest possible sale price and surety of close.
We employ creative combinations of terms and conditions that give our buyers the best chance at landing the home of their dreams. Let us know if we can help and we will go to work!
