Scott P. Rogers
Funkhouser Real Estate Group
540-578-0102  •  email
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Monday, July 3, 2017
Contract Status

Based on the analysis above, it would seem that sellers are not (in almost all cases) accepting home sale contingencies.  Here's the logic....
  • A seller would almost never accept a contract with a home sale contingency without a kickout clause to allow them to move on to a different buyer that didn't have a home sale contingency.
     
  • There are only 9 properties in the MLS that are under contract with kickout clauses.

Even though I have run this analysis before, I am still surprised to find this to be the case --- I thought more contracts might have kickout clauses (and thus home sale contingencies) because plenty of buyers have to sell before buying.

It would seem that most buyers are likely waiting to make offers until they have their own properties under contract (thus eliminating the need for the kickout clause) AND/OR most sellers are not accepting offers with home sale contingencies unless the buyers' houses are already under contract (thus eliminating the need for the kickout clause).

If you are a buyer, I would certainly suggest the strategy outlined above (and the only one that is apparently working with sellers right now) --- get a contract on your house and THEN make an offer on the property you would like to purchase!