What is the procedure when I receive an offer if there are contingencies?

What is the procedure when I receive an offer if there are contingencies?

A contingency is a condition that must be met before a contract becomes binding. Common contingencies include:

  • Financing contingency: Buyer must secure a mortgage.
  • Home sale contingency: Buyer must sell their current home.
  • Inspection contingency: Buyer can terminate the contract based on inspection results.
  • Appraisal contingency: Buyer can terminate if the appraised value is below the purchase price.

Procedure When Receiving an Offer

  1. Review the Offer: Carefully examine the offer, including the purchase price, terms, and contingencies.
  2. Consult Your Real Estate Agent: Discuss the offer with your agent, who can provide valuable insights and guidance.
  3. Counteroffer (Optional): If you don't accept the offer as is, you can counter with different terms.
  4. Accept or Decline: Decide whether to accept the offer as presented or counteroffer.
  5. Negotiate Contingencies: If you accept the offer but want to modify the contingencies, negotiate with the buyer's agent.
Your Houzeo Listing Agent may assist you with contingency negotiation under select plans. If you need further clarification on specific services included under each plan, please feel free to visit our state-specific pricing and services page or book a call with a Houzeo Expert to ask your questions.


    • Related Articles

    • What if I get an offer emailed to me outside of the House platform?

      Once you receive an e-mail with an offer from either a buyer or a buyer agent, you can choose to either accept, counter, or decline the offer based on the viability of that offer. Alternatively, you can choose to send a link of your Houzeo listing to ...

    • An agent wants to send us an offer. Do they just email it or how does that work?

      There are multiple ways how Buyer Agents/Buyers can make an offer on your property. As they feel feasible, they may email it to you or they can submit an offer on your Houzeo Listing directly. Agents eager to submit an offer can conveniently do so by ...

    • What if I need help with an offer or counter-offer?

      NOTE: The Bronze plan is no longer available for any state plans. If you receive an offer and want to counter it, our listing agents can help you craft a response. This service is included with Gold and Platinum plans. If you’re on Bronze or Silver, ...

    • How can I Counter an Offer?

      To counter, not just the price, but the closing date, earnest deposit, or any other offer parameter. Sellers can easily manage this process online, which streamlines negotiations and helps both parties move towards an agreement more efficiently. The ...

    • Does your online service provide online offer and acceptance forms?

      Houzeo is a Flat Fee Technology Company and not a Real Estate Brokerage hence Houzeo does not directly provide offer forms or offer acceptance offers. We have a feature called "Houzeo Offers" which allows buyers to submit offers online directly ...