When selling your home, you may get many offers that contain contingency clauses. One of the most common examples is a home inspection contingency clause. The seller makes an offer but, if the home doesn’t pass the inspection, then the seller is not bound by that offer. This gives them some protection so that they know what they’re really paying for.
But what if an offer comes in without a contingency clause? Why would this be removed? And should you consider this type of offer when trying to sell your home by yourself?
This may actually be beneficial for you
A situation like this can be a bit complicated when you’re trying to go through the process on your own but don’t be worried about an offer without contingency clauses. It can still be valid, and it may actually be beneficial on your end, as the seller of the home.
After all, the odds that the sale will fall through are much lower if there are no contingencies that have to be met. Once you accept the offer, no matter what happens in that home inspection, the seller is still bound by the offer.
In fact, this is often why people remove contingency clauses. They may know that it’s a very competitive market and that you’re going to get a lot of offers for the home. By taking out the contingency clauses, they make their offer somewhat more attractive to you – without having to add any money to it.
As you can see, real estate offers and contracts can all be unique. It’s important to understand what legal steps to take at this time.