Blog Buyer Contingent Offer in Lake Oswego

Contingent Offer in Lake Oswego

By Sophia Rosenberg, 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.

Sophia Rosenberg

Earth Advantage & ADU Specialist Broker

Home, hospitality and community have long been signposts to Sophia’s heart, and they also happen to represent key stages of her life so far. As a young, up-and-coming designer, she put an interior architecture degree from the University of California to work managing the design and styling of new openings for the popular Kimpton Hotels brand. After completing Babson’s renowned entrepreneurial MBA program, Sophia began creating the marketing and branding plans for a host of new luxury hotels — including Joie de Vivre’s beloved boutique hotels — as director of branding for a hospitality group founded by the Hyatt scion John Pritzker. But amid all the travel and excitement, she began to feel a desire to be closer to “a community I’m proud to call home while helping families find their perfect place.” Her first home was a 1938 English cottage that she successfully renovated, decorated and sold. And as she turned from creating homes away from home, to home sweet home, it turns out that real estate brings it all together for her: Nimble management skills. A passion for design. Love of community. An accredited Earth Advantage Real Estate Broker and ADU Specialist, she offers clients an abundance of green home expertise with hands-on experience creating backyard cottages (check out her charming loft on AirBnB). Among clients and colleagues alike, she’s known as much for her tenacity and enthusiasm for negotiating and navigating multiple offers as she is for nurturing and maintaining relationships long after her deals are closed.
When she’s not helping her clients, you’ll find her renovating her 1911 Four Square, shopping vintage and spending time outdoors with Maya, Archie and Danny — her young daughter, son and sneaker obsessed husband.
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  • T: 503-936-7499
  • sophia@livingroomre.com

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