When you sell your home, are you willing to take the buyer's existing home in trade? Probably not - right? So, what will you do when the buyers say "We want to purchase your home but must sell ours first?"

If you accept an offer with that condition, it is called a contract with "contigency". The contigence, of course, is that the buyers are not obligated to complete the purchase of your home - until theirs sells. That could leave you at the mercy of the buyers, or it may not. Don't riase the caution flag too quickly.

When confronted with a "contigency" offer, ask your real estate representative to explain the positive, as well as the negative aspects of accepting the offer.  Ask questions. Is the purchaser's home currently on the market? Has it been listed with a real estate company? Is it being actively marketed? Have their been any offers?

If the answer to all four questions is "no" it might be wise to continue marketing your home. If the answers are "yes", it may be that the contingency is only a short-term hurdle to the successrful sale of your home.

Each home purchase and sale includes many variables. To benefit from an informed decision, depend on your representative to explain the consequences of each purchase offer received.