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
Thursday, April 20, 2023
As we make our way through the spring real estate market, plenty of folks are getting geared up to buy a home. Some of those would-be home buyers also need to sell their current home.
No worries, right? We can just make an offer to buy contingent on you selling your home. Right? Right???
Maybe not.
There still seem to be MANY, MANY more buyers in the market to buy than there are homes available for them to purchase.
As such, home sellers are not, for the most part, accepting home sale contingencies.
An offer with a home sale contingency technically means the seller has their house under contract -- but does it really matter? The sale won't head to closing unless some other house (your house) also goes under contract.
If you are selling a home this year, I am likely going to tell you that you won't have to accept an offer with a home sale contingency.
If you are buying a home, the same logic applies, a seller is unlikely to have to accept an offer with a home sale contingency.
Case in point... there are 266 houses under contract right now in Harrisonburg and Rockingham County in the HRAR MLS.
Of those...
- 262 houses do not have home sale contingencies *
- 4 houses do have home sale contingencies **
* These are houses marked as "Pending" in the MLS
** These are houses marked as "Active with Kickout" in the MLS
So... if you're looking to buy, and you need to sell, we need to talk through the logistics of how you can accomplish that in this competitive market where most other buyers are likely making offers on houses without home sale contingencies.
