The Real Estate Encyclopedia
I have a contingent offer and someone else wants to buy. What should I do?
Category - Home Selling Questions - Selling Legal & Closing FAQ's
We'll assume the second offer is non contingent and better than the original. If this happens you have to give notice to the first buyer that you have another offer. The first buyer has only two choices…waive their contingency or rescind their offer. They may be able to afford both homes under a bridge loan and waive their contingency. If they are not able to purchase without selling then they get their earnest money back and you can sell it to the second party. Just be sure that the second party are good buyers.


External Links
Home Selling Questions - Selling Legal & Closing FAQ's
Home Selling Questions - Agent, Offer & Commissions FAQ's
Home Buying Questions - Buying Legal & Closing FAQ's
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