Offer contingent on buyer selling their home

[Tyler Clark]

I'm looking for advice on an offer I received on my personal residence.

Yesterday I had a potential buyer submit a full price offer (370k), on my personal residence. They are offering 6k in earnest money, and want to close in 90 days. The catch is they have to sell their home in order to close on mine. They are willing to wave all contingencies, so in theory the EMD should be mine if they fail to close. My concern is that if at 90 days they are unable to close, and I re-list I've missed some of the best selling months.

Have any of you dealt with similar situations? If so, how did you handle it, and what were the end results?

[Tyler Clark]

@Lynn McGeein thank you for providing your perspective. I certainly do not want to inherit their problems.

Since I posted my question last night I've gotten more information about the current situation of their home. It is not under contract. Knowing this, I didn't have any interest in entertaining their offer. I let them know that if in the future they were under contract they could contact me and we could discuss possibilities at that point.