Making an Offer as a Home-Sale Contingency Buyer: What You Need to Know
Buying your next home while selling your current one can be a balancing act—but with the right strategy, it’s absolutely possible to make a competitive offer. At Royer Realty, we often work with clients navigating this process, and a helpful tool in your homebuying toolbox is a home-sale contingency.
A home-sale contingency allows you to make an offer on a new property while still finalizing the sale of your existing home. But to ensure your offer stands out and gets accepted, there are some key strategies and expectations you—and your agent—should understand.
What Makes a Strong Contingent Offer?
If you’re buying with a home-sale contingency, sellers will want to see that your current home is:
- Already under contract with a buyer
- Or, at minimum, actively listed on the market
The more concrete your home’s sale status, the more confidence the seller will have in your ability to close.
In some cases, sellers may accept your offer with a condition: your home must be listed within a certain number of days—typically 3 to 7 days from acceptance. This keeps the timeline moving and demonstrates your seriousness.
Understanding the “Bump Clause” or First Right of Refusal
To protect their interests while still moving forward with a contingent buyer, many sellers include a “Bump Clause” or First Right of Refusal in the contract. This clause allows the seller to continue marketing their home and accept other offers, even while under contract with a buyer who has a home-sale contingency. If another qualified buyer submits an offer, the seller must give the original buyer a specified amount of time—typically 24 to 72 hours—to either remove their home-sale contingency (demonstrating they can proceed with the purchase regardless of whether their home sells) or step aside and allow the seller to move forward with the new buyer.
The details of this process are outlined in what's often called a Contingent Sales Addendum, which can be written with prior notice or without notice to the first buyer. A "with notice" clause gives the first buyer a final opportunity to waive the contingency and proceed. A "without notice" clause, often referred to as “sudden death,” allows the seller to cancel the contract unilaterally in favor of the new offer. In either case, if the original buyer can’t or chooses not to proceed, their contract is typically terminated, and any earnest money is refunded.
However, all is not lost if you’re the original buyer who has been “bumped.” You may request to remain in a backup position, meaning your contract would become primary again if the new buyer’s deal falls through. While not guaranteed, this can be a strategic move—especially in a competitive market where other properties may not meet your needs as well as the one you’re trying to secure.
Key Timelines to Discuss with Your Agent
Your real estate agent should guide you through outlining a realistic but competitive offer timeline. That includes:
- Inspection deadlines: Usually within 7–10 days of acceptance
- In some cases, the inspection period may begin once the buyer’s current home is under contract, rather than immediately upon acceptance of the purchase offer.
- In some cases, the inspection period may begin once the buyer’s current home is under contract, rather than immediately upon acceptance of the purchase offer.
- Expected closing date: Often 30–45 days, but can depend on your current home’s sale progress it could take 60+ days.
- Estimated time to sell your home: Varies by market, but your agent should provide a comparative market analysis (CMA) to support your plan
Setting Expectations
Buyers using a home-sale contingency must be proactive and transparent. Strong communication between agents (buyer’s and seller’s) builds trust and improves the odds of acceptance. Be ready to show:
- Proof your home is listed or under contract
- Pre-approval for financing, if applicable
- Flexibility with timelines, when possible
Final Thoughts: Leverage the Power of Professional Guidance
A home-sale contingency doesn’t have to be a deal-breaker—especially when your offer is well-structured and backed by expert advice. At Royer Realty, we know how to position contingent buyers for success. Our team will help you present a compelling offer, manage deadlines, and move smoothly from "for sale" to "sold" and settled in your new home.
📞 Have questions or ready to start your home search? Give Royer Realty a call at 937-592-7653 or visit us online at www.royerrealty.com to get started today. Let’s make your next move your best one yet.