Published October 30, 2024
Should You Accept Contingent Offers When Selling Your Home?
With buyers increasingly attaching contingencies to offers, learn how to balance speed and price to make the best decision for your home sale.
You’re ready to sell your home, and everything’s lined up. But when the first offer arrives, it’s tied to a contingency — a condition the buyer must meet before the sale can proceed. They might need to sell their home first or wait for final financing approval. You’re left wondering: “Should I accept this or wait for something simpler?
Contingency offers are more common as the market shifts. Accepting one might add uncertainty and delay your closing, but depending on your priorities, it could be worth it. Here’s what to consider before saying “yes”:
1. Think about your situation. Are you in a rush to sell because of a job relocation? Or are you aiming for the best price, even if it takes a little longer? Knowing what matters most to you—speed or price—will help you make the right choice. If timing is your priority, accepting a contingency might slow things down, but a well-structured contingency offer could still work to your advantage if price is vital.
"Working with someone who understands the ins and outs of today’s market will give you confidence in your choices and support your sales from start to finish."
2. Know the type of contingency. Not all contingencies are created equal. Here are a few common ones to be aware of:
Sale Contingency: The buyer has to sell their current home before they can buy yours.
Subject-to-Clause: This type of contingency means the buyer needs certain approvals before moving forward.
Listed vs. Unlisted: Some buyers have already listed their homes, while others might be thinking about it.
Each type brings its level of uncertainty. This is where having an experienced agent makes a difference—they’ll help you assess the offer and weigh the potential risks.
3. Consider non-contingent alternatives. If you’d rather skip the contingency altogether, there are options. Programs like the One Move Program turn buyers into non-contingent buyers, eliminating the need to sell another property first.
Other possibilities include:
Alternative Financing: Some buyers might be able to secure funding that avoids the need for contingencies.
Delayed Closing: Sometimes, just delaying the closing date can give buyers enough time to get ready without a formal contingency.
The right agent makes all the difference regarding contingency offers. Working with someone who understands today’s market will give you confidence in your choices and support your sales from start to finish.
Selling your home is a big step, and you deserve a process that respects your goals and timeline. Whether you’re ready to accept a contingency offer or just need some guidance, I’m here to help. If you’re interested in chatting through your options and making a plan that works for you, please contact me at 330-417-3144 or jose@josesellshomes.com. Together, we’ll develop a strategy to put you in the best possible position for a successful sale.
