Trisha ,
I would say that despite what people say , in all practicality , it is very difficult to get an offer accepted with a contingency clause on it . The main reason being that in our area , buyer and seller are represented by lawyers ,who are supposed to act with their clients best interest at heart.The lawyer would not allow his client to sign any kind of contract that depends on the sale of another property , without making sure that his client is not liable for anything .But they can avoid any liability by NOT signing a contract anyway
Think of it this way , the seller if he does not sign a contract with the contingency , has two options and is at worst , no worse off , and at best has avoided all kinds of legal problems
a) the first property sells - so he can sign a regular contract now that the other property has sold.
b) that property does NOT sell -either the contract is void anyway since the potential buyer cant buy your property anyway (he cant afford two mortgages ) so they can sell their property to someone else who comes along .
Another buyer who comes along might avoid their property since he may be held up by the contingency clause in that contract . He doesnt want a problem , so he will avoid your property . Part of a realtors ethics is disclosure
and he would have to disclose that there is a contract with a contingency clause in it . How long must anyone wait ?
does the contract with the contingency clause have first option ? etc etc etc
There are too many problems associated with a might be contract .I know in other states that contingency clauses are used , but I havent seen one go through in this Long Island area.

Its very possible and happens all the time. In this market anything is possible and quite frankly if the house your interested in has been on the market a long time, they might entertain your offer.

Hi, Trisha,

This is the problem with our market today and one of the reasons we are in this situation
in which we are in. The sellers don't want to drop their price, so the buyers are not buying.
And the buyers who have properties to sell can't sell them to buy the new property.
If you can drop your price a little more you will probably get a buyer much quicker and
after that still I am not sure they will accept a signed contract with the contingency that your house will close.
What if something happens and the buyer backs out and you don't close then you can't buy?. You have to
be able to buy the new house without closing on your condo.
Good Luck
Camille Dandola

All things are possible. But not the norm. Would you wait for a buyer who has baggage to sell in the future, and sign contracts with that type of contingency? What you will most likly wind up with is a lose agreement that if someone does not come along by the time you are ready, we may go with you. Remember also that that agreement if signed does not entitle you to a lower price he might accept down the road with others. Good Luck, Paul

If you really want that house, drop your price more. You are getting showings which means you are in the right area, but it would sell at the right price.

It is not a wise move to accept a contingency offer such as you are suggesting.

Trisha yea its a possibility,you can do that,the problem you run into,they will probably keep showing the house you like,and if they get a offer,you usally have 48hrs to accept or not.this approach is not as apealing in a slower mkt.Or if you can you could bridge loan option.Your Realtor should be telling you.Good luck.

TJ