Contingent sales, yea or nay?
For the past couple years, the very heated Portland metro real estate market was unforgiving to buyers that didn't have the perfect offer. Trying to buy a home contingent upon selling another one was imperfect and mostly wishful thinking. You were competing with very motivated buyers pulling out all the stops, promising sellers the moon, paid in cash, "and a fresh whole Chinook salmon as a kicker…if the Seller would PLEASE just accept our offer by 5pm today."
However, the market has cooled slightly. Savvy buyers and sellers now are wise to understand and consider having such a contingency. Sellers are more motivated now to entertain one, especially if your home is market-ready, all spiffed up, and priced right to sell. Your contingent offer may be the best thing the Seller has seen. The worst thing they can say is "no", but they often say "yes" instead.
As a seller receiving a contingent offer, you shouldn't automatically rule it out, either. The devil is in the details. A good agent will carefully vet the incoming offer with you and for you, finding out details of that home and its prospects for selling. Contingent offers more often bring a good sale price because your buyer has less price leverage when they still have a home to sell.
Being well counseled on either side of the deal, you can make a contingency work to your benefit. Call me today to discuss your own situation and needs. I look forward to helping you!
Hasson Company Realtors
15400 SW Boones Ferry Road
Lake Oswego 97035