SPECIALIZING IN: Gwinnett, Hall, Barrow and Jackson Counties. I can be reached at: (404)395-1177.

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From My Affiliates: Buford, Flowery Branch and Lake Lanier Georgia home buying, real estate listings, and homes for sale in Gwinnett County, GA

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Real Estate Contracts >Contingency Contracts

Buyers walk into your home in your area and fall in love with it. There is one problem--they will have to sell their home before they can buy yours. Their offer contains a contingency clause which makes the purchase dependent upon selling their present home. Should you accept such an offer?

Your decision should be based on several factors. Is their home being professionally marketed at this time, or are they trying to sell it themselves (a risky proposition!)? How long has it been on the market? Is it overpriced? If the house doesn't sell, can the buyers take out a bridge loan or make other arrangements to get to the closing table? How important is timing for you? Will the buyers agree to let you continue marketing your home and accept a non-contingent contract (and void theirs) if their house does not sell? Contingent contracts often work out well, but you need the help of a professional to weigh the pros and cons.

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Q	What does "contingency" mean in real estate?
A	A contingency is a specified event that must take place before a home purchase contract is binding; for example, a sale can be said to be "contingent upon the sale of the buyer's current residence."
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Mary Ellen Small, REALTOR®, real estate agent and broker for Buford, Flowery Branch and Lake Lanier Georgia home listings, property and land for sale - NUMBER1EXPERT(tm)

Mary Ellen Small
Keller Williams Realty Atlanta Partners
4878 Manhattan Drive
Buford, GA. 30518
404-395-1177
678-318-5044
Email: mary.small@kw.com
Relocating, moving-up, or first time homebuying? Your priorities come first with Mary Ellen Small. A broad marketing program and top-notch customer service are the keys to a hassle-free experience for her clients. As a multi-million dollar producer, she has the background and negotiating skills to get the job done efficiently. Having been a local resident since 1987, she also has immense knowledge of the marketplace and the people. Buying or selling a home is one of the most important decisions of your life. Be sure you use the services of a true professional. Call or email Mary Ellen Small.

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