House Offer With Contingency In Fairfax
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You can still make an offer on a house labeled contingent or pending. However, when a property has one of these statuses, it means that an offer has been accepted, so the sale is in progress. The deal hasn't been finalized, so it still gives you an opportunity.
Contingent offers have higher rates of falling through and as a seller you very well run the risk of losing out on non contingent buyers.
A contingency clause should clearly outline the conditions, how the conditions are to be fulfilled, and which party is responsible for fulfilling them. The clause should also provide a timeframe for what happens if the condition is not met.
This offer is contingent upon the buyer's satisfaction with the results of a professional home inspection, to be conducted within 17 days after the acceptance of this contract. The buyer shall have the right to hire a qualified inspector to evaluate the property's condition.
If you're interested in a property that's listed with an active contingent status, you may still be able to make an offer. While the initial offer will take precedence if all the contingencies are satisfied, making an offer can put you at the head of the line if the original deal falls through.
It won't hurt anything to look at a house listed as contingent. Nor will it hurt to submit a backup offer, if possible. That said, you should anticipate the original contract going through to close. In the event that the sale falls through, having already looked at the house can put you in a better position to get it.
