Quote:
Originally Posted by mikers31
Whether it's a new or existing home in The Villages I was wondering if offers are made, and accepted, contingent on selling there present home and if so, is any money forfeited if another offer appears and the house is lost.
Thanks in advance for any reply. This sight is great. Looking forward to 2 weeks in August and the month of February of 2010.
|
On resale homes, contingent offers are sometimes accepted. More so now than in the past. It is up to the owner to decide, based on advice from the listing agent. (It has been my experience that MLS agents encourage owners to accept contingent offers more than VLS agents).
A contingent agreement normally contains an "escape clause". This means if the owner receives another offer which they want to accept, the purchaser has a stated amount of time (e.g., 72 hours), to remove the contingency clause and firm up. Otherwise they lose the property and the deposit is returned.