If you’re in the market to purchase a home in an area like Waltham, MA you may stumble upon the listing status known as contingent. This listing status can be quite confusing and may cause a bump in the road when trying to decide on homes to view. Therefore, we made this article to help shed some light on contingent offers and what they mean.

 

What Does a Contingent Offer Mean?

A contingent offer is simpler than what most buyers tend to initially think. Contingent offers are when a buyer and seller agree on specific terms and conditions that must be met before moving on with the sales process. If these conditions are not met by the deadline of the contract then the deal is voided and the seller can begin to accept other offers.
 
Contingent offers are made to reduce risk for the buyer of the house. For example, when purchasing a Waltham, MA home you can make an offer contingent on the home inspection to verify there are no mechanical or structural defects with the home. If defects are identified during the home inspection then the buyers can back out of the deal and the contingent status becomes active again

 

Common Contingencies When Selling a Home

Now that you are aware of what a contingent offer is when purchasing a home, let's go over the most common types of contingent offers used. Home inspection contingency allows a buyer to back out of a sale if defects are found in the home.  A mortgage contingency gives the buyer the right to void a sale if they cannot obtain a mortgage.  A title contingency ensures that the home has a clean title and you are properly becoming the new owner. A home sale contingency states that the deal will only go through once the buyer can sell their current house. Whilst all these contingencies mentioned are great for buyers, they can be very risky for sellers so do not be surprised if a seller rejects your contingent offer.

 

Can You Still Make an Offer on a Home with a Contingent Status?

When there is a contingent offer status present on a home listing, this tells you the property has not yet been closed. Buyers can still possibly view and make offers for the property until the contingencies are met. Sellers will still take backup offers from new buyers as a way to minimize the risk on their end if the deal ends up falling through. Even if you have an active contingency offer on a home a good Realtor like Hans Brings would suggest you to still look around at other homes and create other offers. This is to help eliminate even more risk on the buyer's end in case the seller cannot meet the agreed-upon terms or deadlines.

 

Can a Seller Back Out of a Contingent Offer?

When it comes to a contingent offer a seller can request what's known as a kick-out clause. This clause allows sellers to keep gaining other offers that may have fewer contingencies. If the seller finds an offer with less contingency then your current offer may be in jeopardy. The seller will give you a deadline to lower the amount of contingencies in your offer. If the contingencies are not removed then the seller can “kick you out” and accept the better offer with fewer contingencies.

 

Realtor Recommendations for a Contingent Offer

If you’re still confused about how contingent offers work and when to make them then we recommend hiring a notable real estate agent. Hans Brings is our number one recommendation for all things real estate in the Waltham, MA area. Get in contact with Hans Brings today and make your home buying and selling experience easy!

It may seem daunting to sell your house in Waltham, MA. However, with proper guidance and utilizing the best practices, it can become a smooth process. By reading this guide you will be able to learn from some of the most common home-selling mistakes. If you incorporate these tips into your home selling process then your house in Waltham will be sold in no time. 

 

Not Always Being Available

A large part of selling your house in Waltham is to always be available. Many sellers make the mistake of not having their Waltham home available enough for viewing by potential buyers. When buyers call you to request a tour of your Waltham home it is your responsibility to quickly make the arrangements. This means you as the seller should make sure your house is always ready for viewing for Waltham buyers. Holidays are no exception if you want to sell your house in Waltham. Plan to celebrate holidays at other locations just in case a serious buyer wants to have a tour that day.  

 

Not Organizing Your House in Waltham for Viewing

When selling your house in Waltham it is necessary to move and organize all of your belongings. There should be no clutter found in any area of the home. Everything should be neat and clean to increase the likelihood of a buyer submitting an offer. This includes getting rid of personal belongings like photos and memorabilia. Waltham home sellers should aim to make their buyers feel as if the home is already theirs. With minimum decor in the house, it gives the buyer a blank slate to envision the home as their own. If buyers can imagine themselves living in your house then you’re one step closer to closing a deal on your Waltham home.

 

Making Necessary Home Repairs

Making repairs to your house in Waltham before selling it may seem pointless however it’s quite the opposite. If sellers take the time to paint walls, seal cracks, and fix appliances then buyers will become more interested. By updating your home you allow potential Waltham buyers to feel as if they are purchasing a brand-new house that has barely been used. When it comes to larger and more serious repairs for your home in Waltham it's important to be transparent. The seller can either pay to fix the larger repairs before the sale is finalized or they can deduct the price from the buyer's offer to reflect the repair. The main point is to be open with buyers if you want to sell your house in Waltham.

 

Pricing Your Waltham Home to High

Pricing a home in Waltham can be tricky considering we all believe we own the best home on the market. In actuality, there are hundreds of other homes for buyers to choose from in Waltham and Massachusetts as a whole. Be fair on your price and don’t lose out on the peak period of your home listing. A fair price can help the house you are selling garner more attention leading to more requested tours. The more buyers that view your home in Waltham the faster it’ll be to close on a deal. 

 

Not Using a Waltham Real Estate Agent

Houses in Waltham, MA, are very saleable based on the location alone. Without following the correct practices you can potentially be doing more harm than good when selling your home. It's important to always have a good local real estate agent you can trust and rely on during the selling process. Sellers who try and do everything on their own or have an agent from outside of Waltham who is unfamiliar with the area, tend to get lower offers and usually sell their houses for less. If you want to sell your house in Waltham for its full market price then call its most trusted real estate agent Hans Brings. Get in contact with Hans Brings today to learn more information about the selling process of your Waltham home.