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The market here in the Twin Cities is heating up, and because of this we're seeing more contingent offers pop up. Today I'd like to tell you how to better handle these because they can become tricky. Here are a few different tips for you if you're thinking about accepting a contingent offer.
Make sure you have done the research on the home that the
buyers need to sell in order to buy your home. If you wouldn't buy that
home, then I'd recommend against it. You could be waiting for them to
sell for a while, and that will affect your bottom line.
Look at their online marketing. Try to find their
property online. If it's easy to find, that's a good sign. However, if
you cannot find it, then you should also think twice about accepting their
contingent offer.
In our MLS, we have a contingent status, which means that if you have accepted an offer, it will show up as 'Active Contingent'. This means that the amount of showings you'll have on your property will decrease dramatically. People will see your home online but realize that someone may be trying to buy. This will scare sellers away and you'll be left waiting for your buyer.
Hopefully this can help you to get through a
contingency without too much trouble. If you need assistance
when making a decision like this, please don't hesitate to contact me. I'm sure
my team and I could figure something out for you!
