Accepting offer with buyer sale contingency?

[Dan Healey]

Be grateful for thoughts on my current situation....I'm selling a property FSBO and got a strong offer from potential buyer. But his offer comes with a contingency that he has to first sell his home, which is currently still active after 60 DOM. IMO, he's asking about 20% more than market value for his home. So I worry that if I accept offer, it would tie up my property for over a month and if his home doesn't sell, he's off scott free, I lose a month of marketing my property.

If I accept his offer as is, there's one "out" on my end, which would be to accept another offer that does not have such a contingency. In that scenario, I would notify buyer and if his property is still not under contract, he can either remove his own contingency, otherwise I have option to terminate contract. Problem is, I believe per MLS rules (I went with one of those lost cost, flat rate deals), I have to change listing status from "active" to "contingent" / "pending." I feel like that limits the marketability of the property.

Thoughts??  Other options?  

Thanks!!