Archive for June 2012 | HarrisonburgHousingToday.com :: Market Updates, Analysis and Commentary on Harrisonburg and Rockingham County Real Estate

Archive for June 2012


Are sellers accepting home sale contingencies?
By Scott Rogers • June 1, 2012
Plenty of houses are going under contract, but are sellers accepting home sale contingencies? Based on the analysis above, it would seem that they are not (in almost all cases) accepting home sale contingencies. Here's the logic.... A seller would (almost never) accept a contract with a home sale contingency without a kickout clause to allow them to move on to a different buyer that didn't have a home sale contingency. There are only 3 properties in the MLS that are under contract with kickout clauses. I must say, I was quite surprised to find this to be the case --- I thought perhaps 10% - 20% of contracts might have kickout clauses (and thus home sale contingencies) because plenty of buyers have to sell before buying. It would seem that most buyers are likely waiting to make offers until they have their own properties under contract (thus eliminating the need for the kickout clause) AND/OR most sellers are not accepting offers with home sale contingencies unless the buyers' houses are already under contract (thus eliminating the need for the kickout clause). If you are a buyer, I would certainly suggest the strategy outlined above (and the only one that is apparently working with sellers right now) --- get a contract on your house and THEN make an offer on the property you would like to purchase! Receive Updates by Email
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 23, 2024 (unless otherwise noted).
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