This morning on Pirate Radio 93.5fm Ask Jackie, we answered a detailed question from Christine regarding Contingencies in Northern Colorado real estate.
"My friend found her dream home in Northern Colorado. It's a recent Fix-n-Flip. The Listing Agent is also the property owner. The Seller will not accept a contingency offer unless the Buyer's property is under contract. Is this common practice to not accept a contingency unless the house you are selling is under contract?"Yes. Seller's do not want to accept a contingency offer in Northern Colorado unless the house is currently on the market and under contract.
Seller's do not want to limit their potential offers while they wait to see if your home sells. There are so many variables that would make this risky for the Seller in Northern Colorado to not accept a contingent offer unless they are under contract.
If your approach is to have your Buyer's Agent to "just ask" the answer is a quick no we will not accept your contingency.
At Get More Real Estate we create a direct plan to present to the Seller's Agent, we include timelines and back up scenario's, so that both parties feel confident that our contract will go all the way to the closing table. As of February 15, 2024, Get More Real Estate has had a 100% success rate in getting our contingencies accepted.
The real estate market in Northern Colorado has changed drastically in the last five years. Five years ago, no contingencies were being accepted. However, in 2023 & 2024 good negotiation and strong contingencies are making a come back.
It was a pleasure helping listeners understand Contingencies in Northern Colorado real estate. Thank you Sue and Pirate Radio for another great Ask Jackie Thursday Mornings at 8:15am MST www.pirate935.com