[Sadie1313]

Originally Posted by gjbl8114

I am certain that your post was written to warn others of such a stressful possibility, however, it should be noted that contingency sales are in fact, a CHAIN sale by any other name. A Chain sale is never a good idea regardless of the situation for neither the buyer or the seller. It puts both in a situation that neither would like to be. IMO, it would be safe to say that a sale with such a contingency is a sale that probably shouldn't take place in the first place. It is always a better idea to sell an existing property before getting too involved in the purchase of another - especially if it will cause financial hardship. TV's sales people are always anxious to sell properties, and new buyers, especially those who are immediately and impulsively impressed with the lifestyle of TV's are eager to buy. Common sense should kick in at some point and as a previous poster has indicated, you should consider how you would feel if the shoe were on the other foot. Good advice is to not let your impulsive overwhelming desire to purchase in TV's outweigh your common sense.

In hindsight, I totally agree. As the saying goes, "You live and learn".. We didn't know anything about contingencys, and didn't really know about Real Estate laws, etc. When we bought our home in New York, we had a trusted family friend as our attorney, and let him handle the legal end of things. I doubt that we're ever going to move again. But if we do, we'll be alot smarter, and less impulsive. I actually did write this post in response to someone asking about Contingencys. It was to warn them that it wasn't a good idea. So, as you can see, I do agree with all of you that posted that it was not good for either the buyer or the seller. Thanks for all your comments. I hope the original poster has learned from this. Trish