Blog Buyer Contingent Offer in Lake Oswego

Contingent Offer in Lake Oswego

By Living Room Realty, February 22, 2020

When Deanna and Andy came to me and wanted to sell their gorgeous home in Southwest Portland to find a new home in Lake Oswego before their young son started elementary school this coming year, I was excited. Their home in Southwest went for $30k over ask and we had multiple offers within 12 hours.

Contingent in Lake Oswego

Their criteria for the new home was: weird. And by weird, they meant, architecturally unique (see above photo).

 

We ended up finding something before their house in Southwest was on the market so we wrote contingent. And our offer was accepted!

Note: an offer that’s written “contingent” means that the Buyer has to sell a property in order to buy a property. 

We were days away from listing their house when we received news that they had been “bumped”. With contingent offers (also called “bumpable”), the Sellers are still able to accept offers from other Buyers and if there’s one they like, they can “bump” the Buyer. Unfortunately for us, there were two offers, so we were moved to the second back-up position.

This tenacious duo had faith. We continued looking at other properties and put their home on the market, and like so many “weird” or architecturally significant homes, the Lake Oswego one they loved had it’s quirks, so we were eventually moved back up to first position. It was a roller coaster! But, now they had sold their house and bought an incredible home in Lake Oswego.

 

See this article from a 1976 Better Homes and Gardens. It’s truly a 70’s GEM!

One of the best rewards of this duo’s patience is that we ended up negotiating for well under ask and the house appraised well over their paid price. Timing was everything.

Interested in an architecturally significant home? Reach out.

Interested in owning a home in Lake Oswego that has an easement (like this one that has three!)? Learn more about easements here.

Want to read Andy and Deanna’s reviews, head here.

Living Room Realty

Living Room Realty is a full-service real estate brokerage with four offices in Portland, one at the coast in Manzanita, and one in Vancouver, WA. At Living Room Realty, we listen and ask the right questions. We’re committed to being your most effective advisor and advocate. Our goal is your success.
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