As the momentum in the real estate market has changed to one of increased inventory and competitive pricing, the favor has fallen to the buyer, making it a good time to buy a home. As such, it has not been uncommon in the past year to see real estate offers that are contingent upon the sale of another property. So what are the pros and cons of such a contract, and how can brokers help their buyers position themselves to make this type of offer work? The obvious advantage of a contingent sale offer is that it gives the buyer time. By asking a seller to accept a contract that is subject to the sale of an existing home, buyers are able to “lock up” the contract on a house they really want, while they market their own home. It also protects a buyer from having to hold two mortgages while they wait for their home to sell. The downside to this type of offer is the release clause. Generally a seller will not accept a contingency without having a back-up plan should the buyer’s house sit dormant on the market. Commonly set at 72 hours, this allows the seller to continue showing their home and considering other offers. Another offer essentially gives the original buyer 72 hours to prove their ability to close and drop the contingency, or abandon the contract. Brokers who bring a contingency offer can help their buyers by: