04/27/2026
What is a sale of home contingency and why is it important for today's buyers?
First, a sale of home contingency is a document that allows you to submit an offer on a new home while your old home has not yet sold. This is especially important if you need the proceeds from your existing home to purchase the new one.
Seems obvious I know, but why is this important? The simple answer is it gives you the confidence to buy without risking losing your earnest money. This can be a win/win for relocating buyers in particular but not all sale of home contingencies are created equal.
Things to look for:
Short timelines- does your contract expire if your home isn't sold within 15 or 30 days?
First right of refusal- can the seller sell the home to another buyer while you are waiting for your home to sell?
Extended build time- is the builder waiting for your home to sell before they start construction on your new home?
Whether you are moving across the street or across the country, a flexible sale of home contingency can alleviate a lot of the stress involved with moving over a long distance. We are the preferred builder for a lot of relocation companies and agents just for that reason, but any builder can work with you on these terms if you ask them to. If they say no, it doesn't mean they aren't a good builder, but they may not be the best choice for your circumstances.
