Definition
A contingency making your offer dependent on selling your current home. Protects you but concerns sellers (reduces certainty). Rarely accepted in strong markets where sellers have options.
Where you’ll meet it
Should I sell first or buy first?
See it in Moving up to my next home · Step 2About this term
Home sale contingency protects buyer from commitment if current sale falls through. Concerns sellers (reduces certainty). Rarely accepted by sellers in strong markets.
Pro Tip
Home sale contingencies weaken offers significantly. Obtain financing for new home before making offers if possible.
Example
Offer contingent on sale of buyer's current home within 90 days.