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Buying with Contingency |
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We made an offer that was accepted contingent on us selling our present home. Our home has not sold yet. An other couple made an offer on the home that we want. As I understand it, it was accepted, but they now have 15 days to get financing. We already have financing. My question is, if we were to sell our home tomorrow, or before the other couple's 15 days are up, would we get the house?
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I haven't seen your contract, and I don't know if it gives you a specific length of time in which to firm up your offer without the contingency or else drop out. I don't know if you've already received a notification that you have to make that decision. It isn't clear -- perhaps the sellers aren't going to try to call you on this until they're sure the second buyers are really qualified. In short -- I don't have enough facts and I simply can't answer your question. I'm sorry about that. All I can offer you is sympathy. This must be a nervous time for you. But have you considered this? Let's suppose you do "sell our home tomorrow" -- Would you feel safe in firming up your purchase if your buyer still had to arrange financing to make it a sure deal? It's a difficult situation. I guess all you can do is hang in there. |
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Edith
Originally published on May 12, 2007 |
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