have that option, the following will help to explain the scenarios that make a contingent offer more or less risky for a seller to accept. There are also other negotiating tactics I have outlined in another article I authored entitled "12 Strategies on How to WIN in a Multiple Offer Situation". Combining those strategies along with the understanding discussed below can help formulate and plan on the best steps and timing when moving forward to make an offer. If you have no choice but to make an offer subject to the sale of your home, the following three scenarios rate your offer success from worst to best: WORST POSITION - NOT HAVING YOUR HOME LISTED FOR SALE WHEN MAKING AN OFFER ON A NEW HOME If you need to sell your home in order to purchase a new home, you will be making your offer "Contingent" on selling your present home. If you have not put your home up for sale yet, do not expect a seller to look at your offer seriously. Why would they want to accept an offer on their home from a buyer who has not even put their home up for sale yet? They look at any buyer who makes a contingent offer without first having their home for sale as someone who is not serious about buying. A funny thing happens when a home listed for sale goes under contract (even if that contract is contingent on the buyer selling their home). As soon as the MLS and its syndicated websites (such as Zillow, Redfin, Realtor.com, etc.) pick up the CTG (contingent) code, interest in that property drops to an almost nonexistent level.
Take a look at the data chart below on one of my listings where
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