Home Sale Contingencies

Use this language when your client has a pending offer on their home (a solid sale that simply has yet to close):

CONTINGENCY ON CLOSING OF PURCHASERS’ HOME – This offer to purchase is contingent upon the closing of the sale of the Purchasers’ present home located at _______________________, ___________, Michigan on or before ________________ (closing is currently scheduled for ___________). If the closing of the sale of the Purchaser's home does not occur by this date, then, at either party's option, this offer may be considered null and void and Purchaser's deposit will be refunded immediately.

(OR)

CONTINGENCY ON CLOSING OF PURCHASERS’ HOME – This offer to purchase is contingent upon the closing of the sale of the Purchasers’ present home located at _____________________,________, Michigan on or before _______________________. If the closing of the sale of the Purchaser's home does not occur by this date, then, at either party’s option, this offer may be considered null and void and Purchaser's deposit will be refunded immediately.

Use this language when your client does not have a pending sale on their home (it is currently for sale, or about to be put up for sale):

HOME SALE CONTINGENCY - It is understood and agreed that the sale of this home is contingent upon the sale of the Purchaser's home located at ______________________________, Michigan. Said contingency is to remain in effect until _______________________. If the sale of the Purchaser's home does not occur by this date, then, at Seller’s option, this offer may be considered null and void and Purchaser's deposit will be refunded immediately. It is further understood that the listing office (____________________________) will continue to offer this home for sale. Should a second written offer be found acceptable by the Seller, then Purchaser shall have forty-eight (48) hours after receipt of notification of offer to remove this contingency. If Purchaser herein elects to remove this contingency, than any and all offers from other potential purchasers made subsequent to this offer are hereby considered null and void. If this contingency is not removed from this offer, this offer shall be declared null and void and the second offer will automatically be in effect. The Purchaser herein shall have no further claims, and the Seller hereby directs and authorizes the selling broker (___________________________) holding deposit to return the Purchaser's deposit immediately.