Beverly Barlett Sounds Off in SF Chronicle Sunday Real Estate
March 17, 2017
A: Whether or not to include contingencies in an offer is different with each client and property. In the San Francisco/Bay Area market, having as few contingencies as possible will make an offer more appealing to a seller.
Determining whether to have contingencies and which contingencies are necessary depends on a variety of factors.
Is the buyer paying cash or getting a loan? If the buyer is getting a loan, how much of a down payment are they committing?
How much do we know about the condition of the property? It’s important that a buyer understand what they are buying and do their due diligence while still being competitive. There are strategies based on what we know and what we still need to find out.
How much interest and activity is the property getting?
It is very common to present a contingent-free offer when there is a lot of interest in a property. Good communication with the listing agent and mortgage broker is also important. Knowing the best way to package and present an offer also will put a buyer at an advantage. Each property and client are different, which makes every day in real estate exciting.
Beverly Barnett, Pacific Union International
(415) 302-9052, firstname.lastname@example.org.