As Time On The Market Increases, Contingencies In Offers Often Increase


As Time On The Market Increases, Contingencies In Offers Often Increase
By Scott Rogers • September 1, 2022
Day 1 - If a buyer is interested enough to make on Day 1, and potentially be competing against other highly motivated buyers, there is a good chance they will waive some or many or all contingencies. They might not be proposing a home inspection, a radon test, or an appraisal contingency. Day 7 - If a listing is still available on Day 7, a buyer will likely tentatively feel comfortable proposing some contingencies (home inspection, radon test, appraisal, etc.) but perhaps not all of the above. Day 30 - If a listing is still available on Day 30, a buyer will likely feel comfortable proposing any and all contingencies, including a home inspection, radon test and an appraisal. Home Buyers -- Do you want to wait to make an offer to potentially be in a position to include contingencies that you'd prefer to have as a part of your purchase contract? Even knowing that waiting to make the offer might mean someone else buys the house before you make an offer? Home Sellers -- Do you want to price your home to receive offers on Day 1, Day 7 or Day 30 based on the potential contingencies that may very well exist as a result of that pricing strategy? Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
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 22, 2024 (unless otherwise noted).
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