Selling a home in the current Twin Cities real estate market has been easier than buying one. Some sellers have been reluctant to list their home or sell without knowing they will find a suitable home to purchase. To address the challenges of the tight real estate market a “seller’s contingency” has been introduced that gives the seller the right to sell only if they can find a suitable home to purchase. The introduction of a “seller contingency” is not a standardized practice, but may be helpful in encouraging more home owners to list their homes for sale. On the buyer’s side of a “seller’s contingency” there may be some drawbacks. For more information on “sellers contingency” and how it may affect your move contact Phil McDermott with Real Estate Masters through MyTwinCitiesRealty.com.
Full Article-Buchta, J. (2016, April 23). In Twin Cities, some home sellers won’t make a deal until they find a new place themselves. Minneapolis Star Tribune.
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