What is a Contingent Home Sale?

A Contingent Home Sale is when a homeowner is selling their current home with a contingency of finding and closing escrow on a new home at the same time; they are selling in order to buy. The contingency protects the seller and allows them to keep their home in the event that their home is in escrow, but are unable to find a suitable replacement property.

More about Contingent Sales

When the time comes to make the move, most homeowners need to sell their current home in order to purchase the new one. If proper care is not taken when listing the property, the seller could end up closing escrow on their current home before locating their next home, potentially leaving them homeless!

In order to avoid this, we include a contingency in the listing for the seller to find a home, thereby making it a contingent sale. Contingent sales can be a bit difficult to close.

Why are contingent sales complex?


Contingent home sales can be very stressful for the timing factor. Finding the right buyer for your current home AND the perfect new home within a 2 – 3 week period can be very difficult if proper care is not taken.

The Domino Effect

These transactions can be like stacking dominoes: if one piece falls, it can all come down. One of the reasons contingent home sales can be difficult is that both escrows must successfully close for you to move. If one escrow fails, the second is likely to fall apart as well.

Leaps of faith

Another reason why these transactions can be difficult is that, at one point or another, one party is going to have to take a leap of faith and commit to the purchase/sale, and sometimes they don’t jump. These leaps of faith are usually the removal of all contingencies and fully committing to the transaction.

Sometimes a buyer can be reluctant to release their contingencies if they know a seller has the ability to change their mind and decide to not sell after all. Other times the seller on the new home could be pressuring you as the buyer to remove all contingencies when the buyer on your current home is not done with investigations.

Your personal experience will depend on two main factors: the market and the agent you choose to work with. Learn more about contingent sales in our post, Buying and Selling at the Same Time.

Who is The Prestige Team?

Rancho Palos Verdes Realtor Broker Associate Karen Anderson, along with her Real Estate Team, The Prestige Team, has been selling residential real estate in the South Bay, including Rancho Palos Verdes, San Pedro, and far beyond LA County for over 27 years and is ranked in the top 1% of realtors in Rancho Palos Verdes.  We specialize in transforming homes into impeccably presented real estate listings that command top dollar in the shortest amount of time!  

Learn more about us below!

Before After

For our Buyers:

Added Benefits When Working With Us

Contract Knowledge

The Residential Purchase Agreement is 10 pages of terms and conditions that stipulate every aspect of the purchase, and we know exactly how to use them to your complete advantage!

Expert Negotiators

As experienced Full-Service Realtors, we know how to leverage you buying and bargain power. Whether competing to get your offer accepted or negotiating repairs, our goal is to get you a great deal!

Team = Always Available

The added benefit of working with The Prestige Team is that one of our Real Estate Professionals is always available to help. No missed opportunities!

On Every Listing:

Need Additional Assistance? We Specialize in that!

Decluttering & Emptying Properties

Need help with decluttering? Whether you need a few boxes and an extra set of hands, have a house full of items that need to go, we have the resources in place ready to assist with your needs!

Schedule Management

Schedule Management is crucial if you have a time frame in mind for the sale of your home. Let us use our experience to ensure every aspect of preparing your home for the market stays on schedule!

Team = Always Available

The added benefit of working with The Prestige Team is that one of our Real Estate Professionals is always available to help. No missed opportunities!

Latest Posts