Posts from September 21st, 2020

Contingency Contracts & Kick-Out Clauses in Real Estate

Contingencies are a normal part of real estate contracts. Realtors typically see contingencies based on the buyer's loan being approved, as well as the property appraising. However, real estate agents are seeing more and more purchase and sale agreements contingent upon the buyer's current home selling. This can be a very stressful task, to time the sale of a buyer's current home with the sale of their new home.

In large part this increase, in contingency contracts, is due to Coweta County having such a strong real estate market. People are hesitant to list their home for sale before looking for a new home, because properties are selling so quickly. It would not be a good idea to sell your home without having anywhere to go. Many buyers are identifying a home to purchase first then listing their home second.

A contingency contract hurts your negotiation power. Contingency buyers a...

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