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Why don't you put the house back on for showings and let their offer sit there? I forget if you already said why. It's a shame you could be missing weeks of the market and possibly lose another buyer waiting. Maybe once they go under contract on their house, then if you want to entertain a contingency of some sort.
If their house goes under contract then the ball starts rolling on their purchase of ours...actually we have already filled out a decent amount of paperwork already just in case they do sell.
We have had one showing while we are "contingent", however I don't know how many people will want to look at a contingent home as a few of the websites show "going going..." or "contingent" on their site.
It's a BIG role of the dice...I don't smoke but I might start with all this stress!! Lol
If their house goes under contract then the ball starts rolling on their purchase of ours...actually we have already filled out a decent amount of paperwork already just in case they do sell.
We have had one showing while we are "contingent", however I don't know how many people will want to look at a contingent home as a few of the websites show "going going..." or "contingent" on their site.
It's a BIG role of the dice...I don't smoke but I might start with all this stress!! Lol
Oh ok. I just remembered with our contingency that I mentioned somewhere on here...the lady was already under contract for the sale of her property. We just took the risk with the contingency that her sale would go through. It was still a risk no doubt, but I'm not sure I would have taken ours off the market without at least that.
I think a lot of people would want to look at a "contingent" home. People always want what other people want lol! I would keep showings going at least. Although not having more showings is probably appealing right now
Oh ok. I just remembered with our contingency that I mentioned somewhere on here...the lady was already under contract for the sale of her property. We just took the risk with the contingency that her sale would go through. It was still a risk no doubt, but I'm not sure I would have taken ours off the market without at least that.
I think a lot of people would want to look at a "contingent" home. People always want what other people want lol! I would keep showings going at least. Although not having more showings is probably appealing right now
Lol yes. We'd be willing to show anyone throughout this I'd have to think...it's a chance to take itoff the market for these 21 days...and could have a huge ripple effect on our move down the road so it's definitely mixed feelings
Lol yes. We'd be willing to show anyone throughout this I'd have to think...it's a chance to take itoff the market for these 21 days...and could have a huge ripple effect on our move down the road so it's definitely mixed feelings
I would keep showing it. Not sure where you live, but the spring market is starting up fast now around here. You're losing good days. If it was the middle of an awful winter, eh.
Let people come through, you might get a better offer. Also, people often swing back once they've looked at everything. You never know who could be your backup buyer should these people fall through. Also, it will encourage your current buyers to get real with their price, should they need to do that.
If your buyers don't get a contract by Tuesday I would have your realtor change the listing to show active and not contingent. Not sure if that's possible in your state or not, but I would ask and do it if you can. You will still have the contract with your buyer, but that way more people will still view your home and possibly make a non-contingent offer that will bump the one you have. This is just covering your butt!
In my experience, most people will not look at a home that's contingent as they don't want to waste their time.
I would keep showing it. Not sure where you live, but the spring market is starting up fast now around here. You're losing good days. If it was the middle of an awful winter, eh.
Let people come through, you might get a better offer. Also, people often swing back once they've looked at everything. You never know who could be your backup buyer should these people fall through. Also, it will encourage your current buyers to get real with their price, should they need to do that.
Good luck!
Agreed on talking to the current buyers. I believe with the earnest money and the chance to lose that they would be motivated. But I know we will continue to keep our eye out.
If your buyers don't get a contract by Tuesday I would have your realtor change the listing to show active and not contingent. Not sure if that's possible in your state or not, but I would ask and do it if you can. You will still have the contract with your buyer, but that way more people will still view your home and possibly make a non-contingent offer that will bump the one you have. This is just covering your butt!
In my experience, most people will not look at a home that's contingent as they don't want to waste their time.
Agree that people would not want to waste their time with a contingent house. As I more than likely would not as well. I know we are losing some valuable time here but at least it will be mid March if we need to get it back on the market.
Heard from our realtor that they have people interested but they need to sell their houses first. Our realtor told them it was time for a price reduction, even though he can't really tell them what to do. They have already scheduled an open house for this weekend and agreed to a price drop...now the million dollar question is to what amount.
Agree that people would not want to waste their time with a contingent house. As I more than likely would not as well. I know we are losing some valuable time here but at least it will be mid March if we need to get it back on the market.
Depends on the contingency, I've put in offers on houses with contingencies that involved the buyer selling their home because lots of those fall apart.
You don't seem to understand how the contingency is supposed to work. I can't tell you how it is in your state/locale, or how the local MLS reflects/treats a "must sell first" contingency, but ...
the Contingent Sale Addendum you signed with these people should indeed have some type of kickout clause for your current Buyer. Your MLS should distinguish (at least for agents) between "contingent must sell", "Contingent must close", and maybe even "under contract with no Buyers' home contingencies".
Maybe your market has become like ours in NC, where the standard Contingent Addendum does not allow the Buyer to be kicked out for that 21 day period you've agreed to. But they would at least be paying you a fairly pretty penny for the privilege, and your risk doesn't end if they get a sale within the 21 days
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