What's a Contingency?
So you got an offer (score!), but it has a contingency (hmm..). Here's what you need know:
• First, cheer up! A buyer loves your home—so much so that
he or she put in an offer (seriously, they really like it!).
• There's just one little catch (AKA the contingency). In order
to buy your home, the buyer wants—or needs—something
else to happen—like their financing to come through, the
inspection to come back clean, the appraisal to prove
worthy, or their current home to sell.
• As long as the contingencies are met within the given
timeframe (usually 60 days)—the deal is as good as
When you get an offer with a contingency, talk it over with your realtor to make sure it works for you. If the market is hot, keep in mind another offer without a contingency may be just around the corner.
Are you thinking of selling sometime in 2021? I'd love to work with you—reach out today!