- RISMedia - http://rismedia.com -
Can the seller also include contingencies in a contract?
Posted By Freelance On November 22, 2007 @ 7:22 AM In Consumer News and Advice,How to Sell Your Home | Comments Disabled
Yes. For example, if you decide to sell your existing home first before buying another one, you can make the sale of your home contingent on finding a replacement home. Some sellers opt for this contingency to avoid a double move, such as moving to a hotel or rental until a new home is found and made available.
However, there is one problem with this type of contingency: it can inconvenience the buyer, particularly if his own home is in escrow. He may not be willing to wait for you to move.
This strategy has a better chance of working when the market is relatively strong, your home is a rare find, the price and terms of the transaction are very favorable for the buyer, or the buyer is in no hurry to move.
Article printed from RISMedia: http://rismedia.com
URL to article: http://rismedia.com/2007-11-22/can-the-seller-also-include-contingencies-in-a-contract/
Copyright © 2012 RISMedia. All rights reserved.