my realtor has always told me that the first offer is the best one
however, taking a contingent offer in a market like this one seems less than intelligent to me
the chances of these people NOT closing escrow is significant (what if mortgage rates go up another 1/2 point – will they still close?)
so all you accomplish by accepting a contingent offer is to tie up the property and exclude a buyer who might actually be able to close escrow now
when I was selling my properties I required that earnest money ‘went hard’ (out of escrow and into my hands) after a certain period – if the buyer didn’t close escrow his earnest money was still mine – this ensured that I was dealing with a serious buyer – if you are determined to lock your property up in escrow with someone who may or may not close escrow, you might consider having their earnest money go hard
