As a rule, it is best as a buyer to submit your offer with as few contingencies as possible. This will make your offer more attractive to a seller. Some contingencies are expected, such as financing, appraisal, and inspections but adding in additional ones can lessen the strength of your offer.
The most common contingency we see as Realtors, apart from the above mentioned ones, is that a buyer must sell his or her current home before closing on their new one. This is not ideal from the sellers standpoint, but we make it work regularly.
If you need to sell your home before buying, be prepared to act fast once your home goes under contract. Once you have a contract on your home, it would be good to have a few options picked out and be ready to make your offer. Make the offer with the contingency very precisely written, stating he address of your current home and the date it is proposed to close.
Contingencies can hurt your offer, but sometimes they are necessary. Use a professional Realtor to navigate through the intricate processes of buying and selling real estate.
Lee Hamilton
Allen Tate Realty
803 322 4340