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Real Estate Contracts >Contingency Sale

Sellers may be reluctant to accept an offer that is contingent on the sale of another property. However, such a sale can be structured to minimize the risks.

The seller should put a limit on the amount of time that the buyers have to accept an offer, and they should keep their home on the market during that time. They should also reserve the right to require that any contingencies be met within a short period of time, ideally 24 to 48 hours, if they get a second offer. This is called a "First Right" contingency.

Contingent sales can work well for the sellers. The buyer is not in a position to ask for concessions on price or terms and may be able to get interim financing. Each situation is different, however, so go over the terms with your real estate agent before accepting a contingent offer.

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Q	What makes the structure of the Hoover Dam unusual?
A	The Hoover Dam was built to last 2,000 years, and is constructed of concrete that will not be fully cured for another 500 years.
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The Volpe Team, REALTOR®, real estate agent and broker for Lexington, Rockbridge and Shenandoah Valley Virginia home listings, property and land for sale - NUMBER1EXPERT(tm)

The Volpe Team
Prudential Commonwealth Realty
116 North Main Street, Suite 100
Lexington, VA. 24450
Office Phone: 540-463-4443
Fax: 540-463-4089
Toll Free: 800-464-7515
Chuck Volpe: ChuckVolpe@PruCommonwealth.com
As the preeminent real estate professionals in our community, we are dedicated to providing the finest service available while breaking new ground. Because the real estate industry is becoming more sophisticated and challenging every day, you need a professional that understands the industry and is positioned to stay ahead of the game. We go the extra mile to help you achieve your goals. That’s why we constantly research the market and property values so your home is priced effectively from day one. We also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers. This allows us to go the extra mile for you. Call or email us today!

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