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Old 08-30-2010, 10:45 PM
 
518 posts, read 598,730 times
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Has anyone had success in making a contingent offer on a house ?If so how long in general will you be given. I am about to list my home here in NY, Long Island and need the funds to purchase the Las Vegas home. There is a house I am interested in and want to make a contingent offer. It could take around 4-5 months to secure funds from my home sale . Is this doable in this market now? The LV house in question is a MLS and not a short sale, but rather 1 home out of over 100 investment homes. I wish i could trade my NY house for the LV one as they are close in value. My credit score is around 800 and I would put down around 50% on the new home. Any advice appreciated. TIA.
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Old 08-31-2010, 12:51 AM
 
1,688 posts, read 3,056,533 times
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Unfortunately, I don't think anyone would take your contingent offer seriously unless your house was already under contract. Otherwise, it's too up in the air for the seller.

My advice would be to sell your home first or at least get it under contract before you start making offers here.
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Old 08-31-2010, 02:48 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,567,458 times
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Yup - A contingent contract can work but you really need to be at contract and within a month or six weeks of closing.

You are basically asking the seller to take his house off the market in the interim. Not much sense in doing that unless it is pretty close to a deal and reasonably timely.

So get it sold and then find something out here. Lots of things avaiable and will be for a while.
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