Understanding Contingent Offers

A contingent offer is when your ability to purchase a new home depends on selling your current one. This type of offer is fairly common, but its success hinges on several factors, particularly the state of the market.

Navigating a Contingent Offer in Oahu’s Market

Oahu's real estate market can be competitive. In a seller’s market, a contingent offer may be less attractive compared to cash or well-financed offers. However, in a balanced or buyer's market, sellers might be more open to such offers, especially if their property has been on the market for some time.

Assessing the Seller's Risk Tolerance

Every seller is unique, and their willingness to accept a contingent offer varies. Understanding the seller's mindset is crucial. Through your realtor and the seller's agent, you can gauge their openness to risk and tailor your offer accordingly.

Preparing Your Current Home for Sale

Before making a contingent offer, it’s vital to have your current home on the market or, ideally, already in escrow. This shows potential sellers that you’re serious and provides a clearer timeline. Ensure your home is appealing and ready for sale to strengthen your position.

Making Your Offer Competitive

To make your contingent offer more appealing, consider what concessions you can provide. This might include waiving certain contingencies, offering a rent-back arrangement, or assisting with closing costs. These gestures can balance the scales in your favor.

The Importance of a Clear Timeline

When proposing a contingent offer, providing a clear timeline is essential. Set deadlines for when your current home will be in escrow and ultimately sold. This transparency can reassure the seller and demonstrate your commitment to the process.

Partnering with the Right Agent

Successfully navigating a contingent offer requires a skilled real estate agent familiar with Oahu's market. As your agent, I can help strategize your offer, considering all variables to position you favorably, even in competitive scenarios.

Ready to Make Your Move in Oahu?

If you're considering a contingent offer or have any real estate questions, I'm here to assist. Contact me at kristy@hawaiihomesbykristy.com or call (808) 829-6819. For more insights and listings, visit hawaiihomesbykristy.com and search.hawaiihomesbykristy.com.

Kristy Nakamura Realtor, Hawaii Homes by Kristy Brokerage: eXp Realty Phone: (808) 829-6819 Email: kristy@hawaiihomesbykristy.com Website: hawaiihomesbykristy.com Home Search Site: search.hawaiihomesbykristy.com