"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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Location:
Washington
Tags:
contingent offer
kitsap county wa
soundbiteblog
slow market
sellers

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Ambassador
767,381
Robert & Lisa Hammerstein
Bergen County NJ Real Estate
Keller Williams Valley Realty

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
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George Souto
Your Connecticut Mortgage Expert
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut

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
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1,265,500
William Johnson
San Diego Real Estate Voice, GRI CRS e-Pro CDPE
RE/MAX Associates
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
Rainmaker
37,480
S W
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
Rainmaker
359,344
Derek and Mariana Wagner
Wagner iTeam - Colorado Springs REALTORS®
Wagner iTeam -Keller Williams Realty
Okay - I will check it out and return ... muah ha ha !
September 29, 2007 11:46 AM
Rainmaker
359,344
Derek and Mariana Wagner
Wagner iTeam - Colorado Springs REALTORS®
Wagner iTeam -Keller Williams Realty
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
Rainer
66,857
Dionne Morgan
Broker REALTOR ,GRI, e-PRO
Realty World Solano Realty

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
Rainmaker
122,503
David Dee
Real Estate - San Gabriel Valley (L.A.) & N. Orange County CA
IRN REALTY

Rich,

Great post and well said!

Dave

October 04, 2007 12:24 AM
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Rich Jacobson

Your Kitsap County WA Real Estate Broker
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