Have a Home Sale Contingency?

Anthony Lamacchia – May 2nd, 2018

 Hey everybody, do you want to talk about how to get your offers accepted when you have a home sale contingency? We’ve talked a lot about dealing with what I call scared sellers, worried sellers, sellers who are scared to put their homes in the market until they find what they want. Those people in particular are the ones that end up having to make contingent offers which are very difficult to get accepted. I want to talk about that. Anthony Lamarck here on the Crush It In page just finished my work out before I jump in the shower I wanted to come out with some ideas for you guys.

First and foremost, I’m not going to BS anybody, it’s very difficult in this market to get a contingent offer accepted, very, very difficult. Not an easy thing to do at all and you should try to convince your buyers to take some steps first with their own homes. Get their home in the market, list the home as maybe you put a disclosure that says subject to seller finding suitable housing. That way there, they’re a little further down the trail because when you submit an offer and you say it’s subject to a home selling and then you say to the listing agent, “Yes, the home is not on the market but I’m putting it on right away.” They’re thinking to themselves, it’s not even on the market yet. If it’s not on the market you how long is this going to take? Are you guys going to price right? So on and so forth.

One of the things you can do to help yourself with getting this offer accepted is put a date on it, like an end date to the contingency, say subject to home sale add 123 Main Street by x date. Make it soon to prove to them that you’re going to make it happen fast. That’s important. Another thing you can do is just over communicate with that listing agent and let them know what’s going on, what’s your circumstances are, how you’re putting the house in the market right away if you haven’t already. Preferably get it on the market sooner before the offer but if you can’t you can’t.

This is one of the questions that came up. I had put out a video asking for different questions, things you guys wanted to solve. There were three or four people that said, “Can you help me understand multiple offer situations better?” We have another document that we use with our buyers called Ready to Strike. It’s a blog on our website and if you send us a message or post your email here we’ll send you the document. That document explains to buyers all the things they can do to make their offer look better. If you want post your email here and we’ll just shoot the document out to you, you can make it your own and that’s all.

I hope that helped, I didn’t dig into a ton. I didn’t want to go on and on, I’m already at two and half minutes here but I can elaborate even further if you guys would like, feel free to post questions. Have a great day everyone.