A Contingent Offer is Only as Good as the Home Listed
A contingent offer is only as good as the home listed. Contingent offers are on the rise and happening quite a bit in Elk Grove real estate as well as Sacramento real estate. A potential home buyer is working with one of my team members to buy a home in Elk Grove, but she keeps coming back to a listing we have and asking about buying it with a contingent offer. Her close relative has her home listed, and this buyer continually expresses displeasure with the way things are going. The problem is we cannot interfere in the sale of her home, and we certainly would not ask her to list with us. It has to happen the other way around, and she has got to ask us to list her home.
It’s sorta like being between a rock and a hard place. Because when I look at her listing, it is apparent to me that she is about $50,000 over market value. That’s significant. A contingent offer is only as good as the home listed. She likely will not get her price in this market at this time. So, do I tell her that? Do I take the risk that I could be interfering in her transaction even if she asks me? Do I take the risk that her relative will chase me down in the parking lot with an ice pick?
You can read more in my personal blog today about https://www.elizabethweintraub.com/making-a-contingent-offer-when-your-home-is-not-yet-on-the-market.
If you want to sell or purchase a home please call Weintraub and Wallace Realtors with RE/MAX Gold. We can be reached at 916-233-6759.