It's a typical conundrum. You want to buy a new home, but you've got a home to sell. What if you've found the perfect home, but can't afford to make the down payment without using the proceeds from the closing on your old home. Chances are you'll need to use a contingent sale offer. This simply means that to be able to buy this new home, you need to sell your old home. It can be a complicated and frustrating situation for both sellers and buyers. Sellers fear that the buyer's old home won't sell, is over-priced, or will take too long to sell. On top of that, the sellers may have a new home or different scenario that relies on a specific time table, or even their home selling too! Buyers making offers contingent on the sale of their home are hesitant simply because it is an uphill battle to get their offer accepted to begin with, not to mention the logistical difficulties of overlapping the move schedule for two different homes.
Honestly, contingent sale offers are a hotly debated issue in the Realtor world. If anything, they are necessary for some deals to go through, although difficult to get accepted when the market is fast paced. If one piece of the the puzzle drops out, it could affect several other purchases or sales that are based off a single contingency. Difficulties aside, here is all you need to know about contingent sale offers in Fort Collins, and how to get them accepted.