Do you need to sell before you buy? If so, and you really love this house, then a contingent offer is the only way to go. Your realtor is right that putting a contingency in the contract gives the sellers the advantage in negotiations but can still be done if you're willing to spend more money on the house you buy and accept less on the one you sell. Ask your realtor what you can do to attract offers on the townhome you are selling.

My question is "how long has your property been on the market?"

Personally I would not advise a client to make an offer until I had an accepted offer on your property.
If you look at the link below, homes are selling. If your property has been on the market for a month, and you have no offers, in your market (see link), I would advise my client (if I were the listing agent) not to accept your offer.


The rule of thumb is 10-12 showings or one offer in two weeks. Your market time is already twice that long, so odds are it is over-priced. I think that your agent is correct about their strategy, they need to get you to adjust the price.

Offering on a new house before your current house sells is definitely a bit risky. But its not out of the question. You are correct that the real estate market slows down this time of year, but also this year looks to be busier with the tax credit extension. I would ask your agent to discuss this with the seller's agent and "feel them out" to see if the sellers are open to a home-sale contingency. I think you should go for it. Don't let someone else squelch your dream - you are in the driver's seat here when it comes to the decision to make a home-sale contingent offer on another property.

With 30 days on the market, definitely take a 2nd look at the pricing on your home. Houses that have sold very recently are important for determining what buyers are paying for what you're offering, but Active properties should place a slightly heavier importance because this is what today's buyers are actually looking at and comparing to yours. They can't view the sold properties any longer. Take a look at the competition yourself and see where you stand in the buyers' eyes and make adjustments accordingly. Good luck!

Ask your agent again! No, tell your agent if this is what you want! I agree with the comment of lowering your asking price to make it the most appealing of the neighborhood. Look at the others listed in your neighborhood and see for yourself how yours compares. By the way, our office just had the best month in our office history! You can sell in this market if the price is right. Advertise, hold open houses...work it!
Good luck to you!
Julie

I do not see your agents logic. Your leverage in the negotiation will not be great with a contingency, but if you are willing to pay near asking then it may work. A buyer ordinarily does not want to make a contingent offer as it hurts their negotiating position. In other words it is almost impossible to get a seller to accept a contingent offer that is low. You have to step up with price in order for it to be attractive for the seller to accept the contingency. Having said that, many sellers may consider a contingency this time of year. As there are historically less showings during the fall/winter months. Thus they may be willing to accept your offer and hope that your townhome is under agreement by spring. Call if I can help! ---- Jill Stehnach

There are two contingencies in the PA Association of Realtors forms library. One allows the seller to continue marketing and the other takes the house off of the market.

These contingency addendums can be viewed here (toward the bottom of the page):
http://stephenmole.point2agent.com/HomesAuthenticated.aspx?t…

I don't see how it would set the table if your contingency is the latter. I actually don't think either would set the table for another offer. Another buyer has to decide the house is for them over all the other houses and then they will try to by the house if it's available.


If your house is priced competitively (compared to SOLD listings and not to ACTIVE listings in your area), it should sell regardless of season.

Well if you dont make an offer then someone could buy it and if you do offer it at least buys you some time.

I dont see the problem. I would just write up the offer and maybe even lower your sales price and mention this to the seller so that they give you say 60 days to sell your house.

Are you able to purchase the house if another offer comes on the table and your home still hasn't sold? If so I personally don't see anything wrong with a contingency offer with a 36-48 hours kickout clause.