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But......he then has keep his house off the market......for however long, while waiting for this couples home to sell.
Even if he states in writing that he will hold the offer for 30 days or 60 days.
If these buyers don't have luck selling.....then he has lost this time for capturing another buyer.
I think in todays market......its not the thing to do.
Way back when, people did wait for someones home to sell.......but.....not how things are right now.
This other clause.........makes the buyer lock in after 30 to 60 days.......
I'd be worried to sign that if I was the buyer......If "their" buyer falls through, or .....things don't go well......they will be stuck. I hope they realize this.....
If it is reasonable then you need to consider it..... You can also give a counter for the clause such as a 30 day,60 day after that would lock them in to the contract.
They have someone ready to put an offer in on their place who is also waiting for a contract on their place...triple play! It's an upgrade situation... the first seller has a 2 bdrm in Hackettsown which seems to be a popular move lately - alot of "Under Contract" signs poping up. If the Hackettstown home sells, it will move the process along. I think it's a good bet and that I should consider it.... what do I have to lose with a knock out clause? I have others interested as well but they are like the other in here...waiting for the bottom to fall out - snooze ya lose I say : ))
But......he then has keep his house off the market......for however long, while waiting for this couples home to sell.
Even if he states in writing that he will hold the offer for 30 days or 60 days.
If these buyers don't have luck selling.....then he has lost this time for capturing another buyer.
I think in todays market......its not the thing to do.
Way back when, people did wait for someones home to sell.......but.....not how things are right now.
This other clause.........makes the buyer lock in after 30 to 60 days.......
I'd be worried to sign that if I was the buyer......If "their" buyer falls through, or .....things don't go well......they will be stuck. I hope they realize this.....
She by the way : )) Do I have to take it off the market or can I simply list it as "Contingency"...with knock out clause?
If you can wait and not in a hurry then you have nothing to lose.
I was seriously considering taking it off the market in the spring if prices kept dropping at the rate they have been latley... I really have nothing to lose I feel. I also had a couple looking to buy my house without going through the realtor...waiting until i took it off the market in the spring - I will still have that option.
If they cannot buy your home without first selling theirs, you can give them the right of first refusal. This means that if another acceptable offer comes in, then they would need to choose whether or not they can move forward. The house does not come off the market untill the buyer is capable of purchasing. This may be tricky for them as it does not come out of attorney review, but home inspections are expected to be done.
I agree... I'm not in a rush. Plus I like the fact that they are a young couple just starting out...didn't want a huge family with 10 kids and 12 pets messing up my house : ))
This made me smile. I remember a year ago when we had our house on the market. We would lay awake at night staring at the ceiling trying to figure out how long we could survive whilst paying two mortgages. The "old" house sat on the market for months. Finally a buyer. I know you were just joking about the 10 kids & 12 pets comment and I know that you're in no rush -
But our feelings at the time were just this: We didn't care if a family of Purple Martians landed their Mother Ship in our driveway and they exclaimed the need to raise goats indoors. If they had the money - The house was theirs!!
If they cannot buy your home without first selling theirs, you can give them the right of first refusal. This means that if another acceptable offer comes in, then they would need to choose whether or not they can move forward. The house does not come off the market untill the buyer is capable of purchasing. This may be tricky for them as it does not come out of attorney review, but home inspections are expected to be done.
So more of a risk for the buyer than the seller. I wouldn't be a hard arse - home inspection can wait if the attorneys agree. Newer home so I doubt they will find many faults. Besides, I'm one of those people that would make sure everything was in tip top order before i would sell it to anyone.... what goes around comes around : )
This made me smile. I remember a year ago when we had our house on the market. We would lay awake at night staring at the ceiling trying to figure out how long we could survive whilst paying two mortgages. The "old" house sat on the market for months. Finally a buyer. I know you were just joking about the 10 kids & 12 pets comment and I know that you're in no rush -
But our feelings at the time were just this: We didn't care if a family of Purple Martians landed their Mother Ship in our driveway and they exclaimed the need to raise goats indoors. If they had the money - The house was theirs!!
LOL : ))) Not at that point yet - I love my house and we are house proud people. I'm serious about not wanting slobs moving in..lol. We make people take their shoes off before they enter...vacuum everyday - no slobs!!!
It cannot go under contract until the buyers are capable. I'm sure the attorneys would agree to postpone the inspections. I hope it's not a low offer AND a contingency.
Good Luck.
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Memories
If they had the money - The house was theirs!! 
