When a buyer submits a 'contingent offer', it means that the purchase of the new home is contingent on the buyer’s ability to sell their current home. It states that if the buyer sells their home by a specific date, they will purchase the new property and the contract will move forward. If they do not, then the contract is terminated. Home sale contingencies are popular among buyers who are trying to buy and sell a home at the same time. Typically sellers are far less likely to accept this type of offer and this is because a home sale contingency has a lot of risks and could leave the seller on the market in the case that the buyer does not sell their existing home. However, for lots of people here in Humboldt County, this is the only option, or so most think. When there’s a shortage of homes for sale, sellers typically rejoice. After all, the simple dynamics of supply and demand dictate that in a low-inventory market, sellers can
