Replies

1. 
   BillHartmann | Mar 18, 2004 06:45pm | #1

   What do you have to lose by taking the contingency. Properly worded it will not lock out any cash buyers and it gives the potential buyer an emotional commitement to your house. Otherwise they can keep looking and then when they sell theirs they might have found another house to buy.

2. 
   eggdog23 | Mar 18, 2004 09:33pm | #2

   Keep in mind that the contingency clause is for the buyer's benefit, and can be waived by the buyer even if you get a better back-up offer. I would also consider how far along the potential buyers are to selling their current home---has it been listed, is their asking price reasonable for the area, etc.---in considering whether the person is a serious candidate for purchasing your house.

1. 
   Woodside | Mar 18, 2004 11:15pm | #3

   "time is of the essense" is a phrase I've seen used to make dates definitive. So for example, you say in your cluase "you the buyer has until June 1st, time being of the essense, to sell your house", would mean that on June 2nd, the contingency is void and the rest of the agreement wording takes over.

   Get a lawyer to give you the words for your area, but the point is that contingencies can be difficult to hold to a time frame.

1. 
   MisterT | Mar 19, 2004 01:27am | #4

   You don't need a lawyer!

   I'll word it for you for 200$

   Ready????

   Money talks, Bull$hit walks.

   Mr T

   Happiness is a cold wet nose

   Life is is never to busy to stop and pet the Doggies!!

   GO ORANGEMEN!!!

1. 
   tenpenny | Mar 19, 2004 03:34am | #5

   Every contingent offer I've been involved with around here has a standard clause.  If someone else offers the same price, those making the contingent offer have 24 hrs to come up with the money.