Accepting a contingent offer when selling your home in a competitive market can be challenging. Contingent offers depend on certain conditions being met, allowing buyers to withdraw if those conditions fail. Sellers should carefully weigh their options; if there are multiple offers, it may be wise to reject contingent offers in favor of more solid opportunities. Understanding the implications of contingent offers, including the various types and their potential impacts, can empower sellers to navigate the selling process confidently and make informed decisions regarding their property transactions.
Contingent offers involve conditions that must be satisfied for the contract to proceed, providing buyers a safety net if circumstances change.
In seller's markets, properties may receive numerous offers, so buyers often waive contingencies to make their offers more appealing to sellers.
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