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Real Estate Contracts >Contingency Sale

Sellers may be reluctant to accept an offer that is contingent on the sale of another property. However, such a sale can be structured to minimize the risks.

The seller should put a limit on the amount of time that the buyers have to accept an offer, and they should keep their home on the market during that time. They should also reserve the right to require that any contingencies be met within a short period of time, ideally 24 to 48 hours, if they get a second offer. This is called a "First Right" contingency.

Contingent sales can work well for the sellers. The buyer is not in a position to ask for concessions on price or terms and may be able to get interim financing. Each situation is different, however, so go over the terms with your real estate agent before accepting a contingent offer.

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Q	What does the term ARM stand for?
A	An ARM is an Adjustable Rate Mortgage, a loan where the interest rate is tied to an economic index that fluctuates with the market.
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James McCloskey and Peter With, REALTORSŽ, real estate agent and broker for Mississauga and Oakville Ontario home listings, property and land for sale - NUMBER1EXPERT(tm)

James McCloskey and Peter With
RE/MAX Realty Enterprises Inc.
1697 Lakeshore Rd West
Mississauga, Ontario L5J 1J4
Canada
Office: 905-855-2200
Home Office: 905-849-0027
Fax: 905-849-0595
Email: peter@peterwith.com
Peter With has over 20 years residential real estate experience and is an expert in Mississauga & Oakville. He has lived and worked in the area for many years, and he knows it intimately. He is in the top 1% in RE/MAX internationally and holds the RE/MAX "Hall of Fame" award. As a husband and father of two, Peter understands that most of us would rather spend time with our family than hours trying to buy or sell a home. This is why his love and knowledge of the community benefits his real estate clients. He is able to locate the perfect home for buyers and get the best price for sellers in very little time. If you are looking for the Realtor who knows the Mississauga & Oakville market, call Peter With for experience and success in helping you buy or sell your home.

www.peterwith.com is brought to you by James McCloskey and Peter With
NUMBER1EXPERT™ in real estate for Mississauga and Oakville, Ontario

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