Help--have an offer contingent on buyer's house selling
We just got an offer on our house that is the highest we ever had (we are obviously not going to be able to sell it for the price we paid in 2004) but it is contingent on the buyers selling their house many states away. I know this is not ideal, BUT:
Our house has been on the market in a rural area for well over a year, and we have moved away from the state. It is vacant and we have to pay for yardwork and rely on our old neighbors to keep an eye on it. We have had 3 previous offers, one ridiculously low and the other two broke down in negotiation. With this background, we feel we should take this offer, but want to protect ourselves too. What is a reasonable time limit to give them to sell their house? Do we want a kick-out clause? I could really use some opinions.
I have e-mailed our realtor to ask her opinion but haven't heard back from her yet. She just sent us an e-mail with the offer attached, saying it was a good offer and to let her know. That's it. grrrrrr. She's our second realtor too. There has been absolutely no value added by either and I hope I don't have to use one next time I buy or sell a house!