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Selling Your Home >A Disappointed Seller
Many home sellers are disappointed by the first offer they receive. For example, when your agent calls to say that she has an offer on your home, your adrenaline might start flowing profusely. You get really excited, but your happy bubble bursts when you are presented with the contract. It's just not enough! The buyers asked for your new washing machine, and they also want to postpone the closing for three months. You don't see how it can work!
Before rejecting any offer on your property, you should consider making a counter offer. Rarely does an offer look the way it would if you had written it yourself. Consider the good and bad points of the offer, and work with the agents to find a middle ground that you and buyers can live with. You may have to go back and forth several times, and there will probably be compromises on both sides. Unless you are lucky enough to be selling in a strong sellers' market, the buyers will expect to do some bargaining. With a little patience, you and your agent can create a "win-win" situation for you and the buyers.
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| Q |
What does "contingency" mean in real estate?
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| A |
A contingency is a specified event that must take place before a home purchase contract is binding; for example, a sale can be said to be "contingent upon the sale of the buyer's current residence." |
 See More Real Estate Trivia > |
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