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Real Estate Tips
Real Estate Contracts >Contingency Contracts

Buyers walk into your home in your area and fall in love with it. There is one problem--they will have to sell their home before they can buy yours. Their offer contains a contingency clause which makes the purchase dependent upon selling their present home. Should you accept such an offer?

Your decision should be based on several factors. Is their home being professionally marketed at this time, or are they trying to sell it themselves (a risky proposition!)? How long has it been on the market? Is it overpriced? If the house doesn't sell, can the buyers take out a bridge loan or make other arrangements to get to the closing table? How important is timing for you? Will the buyers agree to let you continue marketing your home and accept a non-contingent contract (and void theirs) if their house does not sell? Contingent contracts often work out well, but you need the help of a professional to weigh the pros and cons.

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Real Estate Trivia
Q 
How many steps are there leading to the top of the Eiffel Tower in Paris, France?

A 
Visitors who walk to the top must go up 1,792 steps.
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Bo Longgrear, REALTOR®, real estate agent and broker for Richmond Hill, Savannah and Hinesville Georgia home listings, property and land for sale - NUMBER1EXPERT(tm)

The Bo Longgrear Team
Keller Williams Coastal Area Partners

128 Frances Meeks Way Suite 17
Richmond Hill, GA. 31324
912-756-6602
Fax: 912-727-6867
Email: Bo@BoSellsHomes.com


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