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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Gary Geer, Agent, Antioch, IL
Tue Feb 10, 2015
Lorired7,
Have your agent contact the listing agent to try to find out more information on the type of contingency. Most of the time sellers if they are in the know from their agent will allow for backup offers. This is where your offer may be considered if the current accepted offer deal falls apart. Many sellers are not aware of what this is all about, but it is in their best interest to entertain as many offers as possible even if they have an accepted contract. That way they may be able to sell their home to another potential buyer in waiting should the original accepted contract fails to close. All the best.
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Al Roppolo, Agent, Hingham, MA
Tue Feb 10, 2015
It would depend on what the contingency is.
You may want to consider submitting a backup offer
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Louis Wolfs…, Agent, Needham, MA
Sun Feb 8, 2015
Lori,

Depends on what the contingency is. Selling there house - possibly if there is a kickout clause. Signing p&s, inspection, financing etc. Will depend on if all is ok during inspection or they agree to it, signing p&s if they can agree on terms, financing if they don't get it.

So as you see there is no simple answer.

Ask your agent these questions or feel free to call me to discuss you questions further.
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