Irvine, Orange County and Newport Coast real estate and homes for sale in California - Terry Hunter

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Real Estate Tips

Real Estate Contracts >Contingency Sale

Sellers may be reluctant to accept an offer that is contingent on the sale of another property. However, such a sale can be structured to minimize the risks.

The seller should put a limit on the amount of time that the buyers have to accept an offer, and they should keep their home on the market during that time. They should also reserve the right to require that any contingencies be met within a short period of time, ideally 24 to 48 hours, if they get a second offer. This is called a "First Right" contingency.

Contingent sales can work well for the sellers. The buyer is not in a position to ask for concessions on price or terms and may be able to get interim financing. Each situation is different, however, so go over the terms with your real estate agent before accepting a contingent offer.

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Real Estate Trivia

Q	What famous writer's home is Rowan Oak?
A	Rowan Oak in Oxford, Mississippi, was the home of William Faulkner from 1930 until his death in 1962.
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Terry Hunter, REALTORŽ, real estate agent and broker for Irvine, Orange County and Newport Coast, California home listings, property and land for sale

Terry Hunter
Hunter-Broker
62 Sellas Road North
Ladera Ranch, CA 92694
949-278-1595
Fax: 949-266-8023
Terry@SurfMLS.com
Terry has over thirty years experience as residential broker, investment/land and business broker, licensed custom homebuilder, residential subdivider, syndication general partner and real estate investor. He is a former Air Force Officer. Terry can UNDERSTAND and relate to your wants and desires! He dedicates himself to serve all your real estate needs. Call or email Terry today!