Other buyer contingencies

Our primary objective is to deal with motivated buyers and to clear the purchase offer from any and all contingencies as quickly as possible to ensure a smooth sale and a win-win result. Beside the home inspection, there are several other purchase offer contingencies that are common. These include:

Termite inspection: Usually the responsibilty of the seller to have done.
Radon testing: Buyer will have done if necessary.
Lead paint: An potential issue in homes built before 1978. Sellers have an obligation to disclose the known existence of lead based paint in a home.
Financing: Based on the buyers ability to obtain financing for the purchase. Watch out for specific interest rates written into the contract.
Appraisal: Usually coupled with the financing contingency, the home must appraise for the buyer to obtain the proper financing or the buyer must produce the extra cash required.
Home Owner Association Documentation: By law, sellers must produce HOA documents (if the property is subject to a HOA) for the buyer's review and consideration.
Home sale: The buyer must sell a home to raise money to purchase yours.

Any of these may provide the buyer with a way to void the contract. As a seller, the most desirable purchase offers have the fewest contingencies. We will review strategies with you on how to evaluate these as compared to the offer price and the associated risk involved in accepting contracts heavy with contingencies. The highest price offer isn't necessarily the most favorable.