Contingency Dilemmas

I recently read an article by M. Anthony Carr in the Realty Times (6/30) that had some great ideas for sellers who face tough contingencies--one in particular was buyers placing their offer contingent on them selling their old place. To help overcome this, the author reminds the reader that in real estate, everything is negotiable. In the "Other Terms" section of the contract, the author suggests sellers to:
-Ask the buyer to sell his property at a specified price (one based on a comparative market analysis done by your realtor) .
-Ask the buyer to lower his price every week by a set amount until it gets a contract.

According to the author, the number one contingency is a home inspection. Rather than fear the inspection, Carr suggests the seller conduct his own "tough" inspection, fixing problems before the buyer finds them. A friend of mine recently found this to be true. A home inspection found that his fire alarm was bad. Rather than pay a few bucks to fix it, he had to use a licensed electrician to fix it (costing him some $70!).