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Val and Jim Murrey
Windermere Real Estate / Orcas Island
217 Main Street
Eastsound, WA 98245
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360-376-8000
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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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Q	What famous building receives a fresh coat of 300 tons of reddish-green paint every seven years?
A	The Eiffel Tower in Paris, France.
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Val and Jim Murrey, REALTORŽ, real estate agents and broker for Orcas Island, San Juan County and Shaw Island Washington home listings, property and land for sale - NUMBER1EXPERT(tm)

Val and Jim Murrey
Windermere Real Estate / Orcas Island
217 Main Street
Eastsound, WA 98245
Phone: 800-842-5770
Phone: 360-376-8000
Cell: 360-317-7535
Fax: 360-376-5637
info@OrcasIslandProperty.com
We provide professional real estate services on Orcas, Shaw and Lopez Islands in the heart of the Pacific Northwest's San Juan Islands. Whether it's a waterfront or view home for retirement, permanent residence, vacation or income property; land on which to build your cottage by the sea; a real estate investment or business opportunity--we can help you find it through our knowledge of and access to all local listings.

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