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Is your house currently on the market? How long has it been on the market? If not, when would you put it on the market? would you be using an agent or "trying it on your own?" those are the questions the real estate for the property you want would ask.
Now, if you believe the house is overpriced at 299k, then why bother making a contingent offer? It should still be there when you get your home sold. Or do you think the house is going to get sold at 299K? in which case, it is now priced correctly, right? The only reason to put in a contingent offer is because you believe the property in question will be sold before you can get your home sold....