A sale of home contingency makes your purchase depend on selling your current home. If your home does not sell under the terms you set, you can usually exit the contract.
Why sellers often dislike it
- Your purchase depends on a second deal the seller does not control.
- It can add delay and risk, especially in a competitive market.
- Sellers may prefer an offer without it, even at a slightly lower price.
What to expect
The terms come from the addendum, and wording varies by form and offer. Before you sign, we read it with you line by line, including:
- The deadline to sell your home.
- Whether the seller can keep marketing the home and accept another offer.
- How much time you get to respond or remove the contingency.
Ways to strengthen your offer
- List your home first and price it to sell.
- Sell first, then buy, and plan where you will live in between.
- Ask your lender about bridge financing or other ways to buy before you sell.
Deadlines still apply
A sale of home contingency does not replace your financing contingency. Missing a deadline can put your deposit at risk. See earnest money at risk.
Part of our guide to making an offer in Virginia.
Talk to Glenn and Gift before you sign
Questions about your offer or contract? Call 703-707-0334 or send us your question.
General information for Northern Virginia buyers, not legal advice. Addendum wording differs. Your contract controls, so read it and ask before you act.
