"Is a Contingent Offer in the Hand worth Two in the Bush?"

By
Real Estate Agent with Keller Williams West Sound Realty

 A while back, I wrote an article entitled, "Putting the Cart before the Horse: Making a Contingent Offer." It was written specifically to advise Buyers on the pro's & cons of writing a contingent offer. This time, I thought I would offer up some helpful counsel for Sellers on how to respond to contingent offers.

According to Webster's Online Dictionary, the word 'contingent' has several meanings. Can you guess which one is most applicable to real estate?

1 : likely but not certain to happen : POSSIBLE
2 : not logically necessary; especially : EMPIRICAL
3 a : happening by chance or unforeseen causes b : subject to chance or unseen effects : UNPREDICTABLE c : intended for use in circumstances not completely foreseen
4 : dependent on or conditioned by something else; contingent on fulfillment of certain conditions
5 : not necessitated : determined by free choice

To find out more about how Sellers should respond to 'Contingent' offers, go to SOUNDBITEBLOG (opens up in a separate window for ease of viewing)

                                                                                                               another fun, quality consumer-oriented article by Sparky

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Ambassador
767,921
Robert & Lisa Hammerstein
Keller Williams Valley Realty - Hillsdale, NJ
Bergen County NJ Real Estate

Hi Rich,

Left you a comment on your other Blog but forgot to mention that I loved this picture.  I get it!  A bird in the hand is worth two in the Bush.  Very clever my friend!

September 28, 2007 07:59 PM #1
Ambassador
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut - Middletown, CT
Your Connecticut Mortgage Expert

Rich I see this is another go read my other blog Posts for the answer :)

OK let me guess ....... I pick number 4. 

September 28, 2007 10:09 PM #2
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William Johnson
RE/MAX Associates - San Diego, CA
San Diego Real Estate Voice, GRI CRS e-Pro CDPE
Hi Rich, I am subscribed to your other site . I meant to ask my helpful adviser Jim, about leaving comments. Because I pick it up on the feed, there is no link to comment. Am I supposed to go the site to do that? Dumb question but On the Google feed there is no place to comment.
September 28, 2007 11:16 PM #3
Rainmaker
37,480
S W
Seattle, WA
Great blog post, Rich!! I read it in it's full length and I think it's brilliantly written. I actually assumed it was more than just one of the definitions (in a lose interpretation sort of way!) The question is, is one bird in the hand really in the hand? ;)
September 29, 2007 06:03 AM #4
Rainmaker
359,344
Derek and Mariana Wagner
Wagner iTeam -Keller Williams Realty - Colorado Springs, CO
Wagner iTeam - Colorado Springs REALTORS®
Okay - I will check it out and return ... muah ha ha !
September 29, 2007 11:46 AM #5
Rainmaker
359,344
Derek and Mariana Wagner
Wagner iTeam -Keller Williams Realty - Colorado Springs, CO
Wagner iTeam - Colorado Springs REALTORS®
Wow! That was some excellent information for your neck of the woods. Real Estate is so multi-faceted. There is ALWAYS something new to consider, isn't there?
September 29, 2007 11:49 AM #6
Rainer
66,857
Dionne Morgan
Realty World Solano Realty - Vallejo, CA
Broker REALTOR ,GRI, e-PRO

Contingencies, must be weighed. The time frame could be critical to the deal. Like poker you have to know when to hold them and know when to fold hem.

September 30, 2007 02:15 PM #7
Rainmaker
122,603
David Dee
IRN REALTY - Alhambra, CA
Real Estate - San Gabriel Valley (L.A.) & N. Orange County CA

Rich,

Great post and well said!

Dave

October 04, 2007 12:24 AM #8
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Rich Jacobson

Your Kitsap County WA Real Estate Broker
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