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Picture this: you’re selling your home and receive an offer — great news! But the buyer’s offer is contingent on selling their own home first. What does that mean for you? Should you accept it? Let’s break it down.
What is a Contingent Offer?
A contingent offer means the buyer’s purchase depends on another event happening first — in this case, them selling their current home. It’s common, especially for move-up buyers or downsizers. While it can expand your buyer pool, it also comes with risks.
A contingent offer means the buyer’s purchase depends on another event happening first — in this case, them selling their current home. It’s common, especially for move-up buyers or downsizers. While it can expand your buyer pool, it also comes with risks.
Key Things to Consider:
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Is their home listed? If the buyer’s home is already on the market — or better yet, under contract — there’s less risk for you.
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How strong is the buyer’s home sale? Is it priced competitively? Is it in a hot neighborhood? These factors affect how quickly it might sell.
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Your timeline: If you’re in a hurry to move, a contingency might not be ideal. If you have flexibility, it can work out well.
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Add protections: Work with your agent to build in safeguards — like a “kick-out clause” that lets you continue marketing your home and accept a better offer if one comes along.
Why an Agent Matters:
An experienced agent helps you weigh the pros and cons, negotiate timelines, and make sure you’re not left hanging if the buyer’s deal falls through. Sometimes a contingent offer is your best path to a successful sale — just make sure you go in with your eyes open.
An experienced agent helps you weigh the pros and cons, negotiate timelines, and make sure you’re not left hanging if the buyer’s deal falls through. Sometimes a contingent offer is your best path to a successful sale — just make sure you go in with your eyes open.
