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Real Estate Contracts >Contingency Sale
Sellers may be reluctant to accept an offer that is contingent on the sale of another property. However, such a sale can be structured to minimize the risks.
The seller should put a limit on the amount of time that the buyers have to accept an offer, and they should keep their home on the market during that time. They should also reserve the right to require that any contingencies be met within a short period of time, ideally 24 to 48 hours, if they get a second offer. This is called a "First Right" contingency.
Contingent sales can work well for the sellers. The buyer is not in a position to ask for concessions on price or terms and may be able to get interim financing. Each situation is different, however, so go over the terms with your real estate agent before accepting a contingent offer.
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Where in the United States will you find the largest concentration of million-dollar homes?
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There are almost 314,000 million-dollar homes in the United States, and 41% of these are located in California.
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DeLena Ciamacco
RE/MAX Connections, Realtors
4531 E. Walnut Street
Westerville, OH. 43081
Toll Free : (877) 693-SOLD (7653)
Office: 614-342-TEAM (8326)
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Email: delena@delena.com
DeLena began to sell Real Estate with a local Conventional Brokerage and soon decided that in order to grow she would need to affiliate herself with a much larger, International Company. She chose RE/MAX and that is when her career as a Realtor began to soar. After just her second year with RE/MAX (1993) DeLena ranked #5 in all of Ohio among RE/MAX Realtors. In addition to her numerous local recognizable awards with the Columbus Board and Ohio Association of Realtors, she was inducted into the RE/MAX International "Hall of Fame" and "Lifetime Achievement" (RE/MAX's highest achievement awards) as the youngest Realtor in RE/MAX History to attain this level of sales. She has been the recipient of RE/MAX's highest awards since her first full year with RE/MAX. She has been recognized in "Who's Who" in Residential Real Estate in North America for 1994, 1995, & 1996, and articles have been written about her in Ohio Realtor Magazine, In Contract Magazine, Columbus Executive Woman's magazine, Business First and Buon Giorno magazine, to name just a few. She has contributed her time as a Speaker on numerous "Top Producer" panels in 1993-2010 (ytd). In 2002 DeLena was nominated for the Ernst & Young Entrepreneur of The Year.    
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