Home Sales Contingency Alternatives

2 Replies

Hi,

I am selling my home and received an offer. Initially the buyer asked for a home sales contingency, which I flat out declined. Their counter proposal met me somewhere in the middle in terms of price (still about a $20k gap), and removed the contingency. However, they are asking that in the event that the sale of their home takes longer than expected, they want to be able to rent my house for up to 2 months. They are worried about longer escrow periods from Corona.

In concept, I think I am okay with this. However, I need to ensure I am protected so that they do not get cold feet and try to walk away after moving in the house. Also, any damage/inspections after X date, need to be on them. There will always be little things people find after actually living in the house. What other things should I consider, before accepting their offer?

My agent is also representing the buyer. There are obvious concerns about this, but I am going to ask that she close the price gap from her commission.

Any advice?