So no I would not let that scare you. At the end of the day you always have to ask yourself "is this the best offer, or can I expect something better?" A lot is going to change come spring and most likely in a good way for sellers.
Only you and your Realtor can figure it out together. Good luck!
Nick P Johnson
Keller Williams Classic Realty NW
That's my two cents!
Gina Schedivy, Realtor
Geisinger Group, Inc.
If you have a good house to sell, I will just say no to this buyer....your call.
Nothing wrong with cross checking what someone tells you and make sure they are not lying, but I am just saying trust must be present in a Realtor-client relationship. You can't second guess everything the Realtor tells you, otherwise this transaction will be a headache period. If you don't trust the answers they are giving to your questions there is a problem and it must be fixed. There is too much money on the line for this transaction to get botched.
And ethically I don't want to step on anyone's toes and say my advice is better than who is representing you. None of the Realtors here want that.
You can still market your home for a non-contingent offer. A lot rides also on where that buyers house is and the price it is at.
You have the upper hand here, if anything the buyer should be worried they could get bumped out of 1st position. Good luck!
I would definitely speak with your agent as they know all of the ins and outs of your transaction/circumstance and can give you advice on how to handle this properly. Good luck.
REALLY good question! This gives us an opportunity to discuss these things.
Accepting a contingent offer in this market seems unnecessary. There are lots of buyers out there. So, for you to consider allowing this type of risky offer have some stake in your sale seems like high stakes for you. I'm not your agent and I don't pretend to understand all of your circumstances, but, if you were my client, I'd advise you to pass at LEAST until the property was on the market. If the buyer COULD qualify for 2 mortgage payments, they wouldn't be writing contingent. AND, in MN the only valid circumstances for REMOVAL of the contingency would be a VALID purchase agreement on the back up house.
Now, mind you, I have no way of knowing the particulars of your transaction. Maybe it's been on the market a long time, maybe it's priced above market. If that's the case, you may be more likely to enter in to this contract. Pricing your property appropriately for it's location, condition, size and age is key. You don't want to have the appraisal quash the whole deal. Where is your agent in all of this????