All Contingencies Involve Uncertainty. As A Seller You Can Pick Which Uncertainty Worries You The Least.


All Contingencies Involve Uncertainty. As A Seller You Can Pick Which Uncertainty Worries You The Least.
By Scott Rogers • May 17, 2024
If you are selling your home and you have a few offers from which to choose, you'll have some decisions to make. Which contingencies are you most and least comfortable with? Certainly, ever seller would love to have a cash offer (no financing contingency and thus typically an appraisal contingency), without a home inspection contingency, and certainly without a home sale contingency -- but those offers don't come along that frequently. So, if you have to pick an offer that has some contingencies, which are you most and least comfortable with? Nobody's Favorite: Home Sale Contingency Only Slight Better: Home Settlement Contingency (home already under contract) Comfort Levels Vary: Inspection Contingency Financing Contingency Appraisal Contingency How a particular seller will feel about an inspection contingency, financing contingency and appraisal contingency will vary from seller to seller, house to house and buyer to buyer. Some sellers are quite comfortable with an inspection contingency because they have always been proactive with their home's maintenance over the years. Some sellers are quite comfortable with a financing contingency because the buyer has a significant down payment and/or the buyer is working with a familiar local lender. Some sellers are quite comfortable with an appraisal contingency because they are confident that there are multiple comparable sales that support the sales price. Given that offer terms almost always differ between multiple offers, it is important to discuss and decide which contingencies you are most comfortable with as a seller. 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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