[5-DayForum] Advice for Contingent Buyers

[Bill Effros]

Scot,

I'm working backwards through the email, and I just answered most of 
this in my reply to Karen.

Ask the potential buyer if he or she is willing to run a 5-Day Sale the 
following weekend with your assistance.  Many will do so having just 
experienced the success you had with your sale.  I know of dozens of 
individuals who have successfully sold their homes using this 
strategy--in one case the 2nd buyer employed the same technique with a 
third buyer and all 3 sales were completed within 6 weeks of the first.

If the amount between your first and second buyer is small just drop to 
the second immediately.  Sometimes high bidders will offer a substantial 
premium if you will help them sell their homes the following weekend.  
This is a judgment call.  You will find you can get the second high bid 
over and over on any subsequent weekend if things don't work out, and 
that the second high bidder is likely to stick around until you resolve 
matters with the high bidder.  Or not.

Bill Effros



Scot Burns wrote:
>
> What advice do you have to handle the high bidders that end up writing 
> an offer that is contingent on them selling their home. In this market 
> you could be left waiting for 6-9 months or more and then have it fall 
> through.
>
>  
>
> Do you just suggest taking the highest bid that is non-contingent and 
> if so, how do you go about asking that of everyone?
>
>  
>
> Scot Burns
>
>  
>
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