contract with home sale contingency clause
We are selling our home and have received an offer at an acceptable price, but with a home sale contingency. The buyers are offering a kick-out clause, but we do not think this will be adequate. According to our realtor, if our listing shows as under contract with kick-out clause, we will lose 95% of potential purchasers who will not bother given the oversupply of homes. We do not want to effectively take our home off the market during the prime two spring months for a very contingent offer. The potential buyers haven't even listed their house yet.
Our realtor has suggested that we may be able to sign the contract, but insert a clause giving us the right to continue to market the house as "active." We could accept any other offer, and would not give the buyer the right of first refusal. We would notify the buyer of the other contract, and give them a short period to remove their contingency or submit a better offer. In essence, we would have a contract that would not be binding until and unless the buyers remove the home sale contingency clause or get a contract to sell their home.
Has anyone done something similar? Any suggestions?