Should I buy the first listing I see?

Why contract contingencies are a must
Published on May 9, 2011

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by CareyBot

Some buyers look for years before they find the right home to buy. These are usually repeat buyers. They already own a home, but it no longer meets their needs. And, they could be trying to find a home in a high-demand, low-inventory market.

In 2008, a couple in Oakland, Calif., made three offers on listings, in competition, before they were successful in buying a replacement home. Granted, they had specialized needs. Most people do when they make a move from their first home to one that will work for them indefinitely.

During the last several years, there has been a dearth of quality listings priced right for the market. Often, when a prime listing comes on the market, there is more than one buyer making offers. Consider yourself lucky if you find you