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The assumption is that if the home is shown as Active with Contingency in the MLS, buyers may be less inclined to check it out, particularly in today's market where there are usually so many others to chose from.
The OP indicated that the agent would not have to disclose the contingent status. I doubt that, but if true, then there should be no concern.
I also agree that expecting the contingent buyer to list and close by June 30th is extremely optimistic.
that's what my agent told me. She said the potential buyers will notice anything. If the buyer agent wants to make an offer, she could tell her about it, but since it is "Immediate" knockout, they don't have to wait or lose anything. She said she even don't need to disclose it to other buyer agents.
It just sounds for us, there is no harm... what do you think? What someone suggest it is if local MLS allow it, we should do it?
the buyer counter offers, saying that they will still need "24 hours" kickout...
my situation is:
1) my house is on the market from last fall
2) currently, it definitely have more showings (like several showings each week)
3) we have another offer two weeks ago, We counter-offered, and they said they are not interested. My agent said the buyers were pretty hard to deal with, pinch you to nickles type(Indian couple).
4) They said they are going to have an open house this weekend, and they must be very optimistic?
5) My agent said that our price is very reasonable, and even if it shows as contigency offer in the MLS list, some people who are compete type, will actually shows more interests in the house...
I know, I don't have answers, and I can't made my minds yet...
that's what my agent told me. She said the potential buyers will notice anything. If the buyer agent wants to make an offer, she could tell her about it, but since it is "Immediate" knockout, they don't have to wait or lose anything. She said she even don't need to disclose it to other buyer agents.
It just sounds for us, there is no harm... what do you think? What someone suggest it is if local MLS allow it, we should do it?
As to your MLS, if it allows the status to remain fully active, then why not take advantage of it? Our MLS is very clear that the status must be changed to show contingent contract status within 3 days of acceptance.
While an Realtor does not have to disclose the existence of other offers if so directed by the seller, I don't think this applies to an accepted contract.
1) if they already have the offer and the house is under contract, we will consider sale contigency. But currently they don't have anything to show that their house will sell immediately, they should't expect we accept sale contigency offer.
If we decided to reject their offer, and say come back if your house is under contract, how likely they will come back?
2) If the buyer is really motivated that they must sell the house, for example, they will lose half of the earnest money, then we can consider their offer. Can we ask for that?
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