Home Buying in Hopkinton>Question Details

Lorired7, Home Buyer in Lake Worth, FL

Can I buy a house that already has a contingency clause on it ? I would be paying cash for it.

Asked by Lorired7, Lake Worth, FL Tue Jul 26, 2011

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Lorired 7;
I would do a back up contract as proposed below. I would also call in from time to time to check on the status. You may inquire about the contingency to see what it is. If it is the sale of the house you may ask if it has gone under contract. But you need a Realtor. See below.

Contingencies have a time period. You can inquire about that. I personally don't like to accept contingencies for this reason...it takes the house off the market when another better buyer comes along. When I do accept them then I add language that says if another offer is submitted then the buyer has to either remove the contingency or back out of the deal. If you don't have a Realtor, get one. You may be able to buy the house still.

Cathy Bureau
Broker - Owner
Green Home Realty
0 votes Thank Flag Link Tue Jul 26, 2011
As others have indicated, You cannot buy a house if it's already under contract. However, you can put in a backup offer, in case the contract falls through. Make sure you have a Realtor working for you as a buyer's agent.
0 votes Thank Flag Link Tue Jul 26, 2011
Hi, Your offer would most likely be a back-up if a contract is already in place. These days anything can happen so I would recommend using a buyers agent and placing an offer. This way your agent can continue to follow up on the deal to see if anything changes.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
0 votes Thank Flag Link Tue Jul 26, 2011
Why not, you can't buy a home that has a contract on it, unless the contract falters and it comes back to market!
0 votes Thank Flag Link Tue Jul 26, 2011
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