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Real Estate Contracts >Contingency Contracts
Buyers walk into your home in your area and fall in love with it. There is one problem--they will have to sell their home before they can buy yours. Their offer contains a contingency clause which makes the purchase dependent upon selling their present home. Should you accept such an offer?
Your decision should be based on several factors. Is their home being professionally marketed at this time, or are they trying to sell it themselves (a risky proposition!)? How long has it been on the market? Is it overpriced? If the house doesn't sell, can the buyers take out a bridge loan or make other arrangements to get to the closing table? How important is timing for you? Will the buyers agree to let you continue marketing your home and accept a non-contingent contract (and void theirs) if their house does not sell? Contingent contracts often work out well, but you need the help of a professional to weigh the pros and cons.
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What is the legal term used to describe the right of the U. S. government to condemn private land for public use?
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| A |
Right of Eminent Domain allows the government to confiscate private land by paying full market value for the property. |
See More Real Estate Trivia > |
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Bob Kelly Keller Williams Realty 637 Main St. Stroudsburg, PA 18360 PA License #RS287521 Direct: 570-242-4400 Office: 570-421-2890 Fax: 570-227-0062 Toll Free: 1-866-410-KELL bobkelly@kw.com
I pride myself on knowing the area and information surrounding it. The Poconos Region is changing rapidly and it is my job to know what economic and social influences are, or will be affecting areas with-in our region. This way I can best assist you in locating to the best area possible. If you choose to make the move to the beautiful Poconos area, you can count on me and any of my team members to provide superior service to you and your family, no matter how large or small the task. Simply just ask. We look forward to working for you.  
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