Realty Biz

AUGUST 3, 2020

With home buyers facing tougher competition this year amid ongoing housing shortages, some are trying to gain an edge by waiving contingencies to make their offers look more enticing. Redfin said this week that almost 20% of successful offers submitted by its agents in June in select U.S. who did so in June 2019. In addition, 20.6%

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HomeLight

JANUARY 31, 2024

Here are some of the most common contingencies you might encounter: Home sale contingency: This allows the buyer a specified amount of time to sell their current home. Inspection contingency: This gives the buyer the right to have the property inspected within a certain timeframe.

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Purchase and sale agreement Inspection contingency Home sale contingency Inspection 115

HomeLight

SEPTEMBER 9, 2020

Buying a house with cash has plenty of benefits — for one thing, you’ll be mortgage-free, which means you won’t be beholden to a monthly mortgage payment (sounds pretty nice!). That’s because “a buyer purchasing a home with a mortgage loan could still lose their financing, even with a solid preapproval letter. Find your house.

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HomeLight

JULY 31, 2022

One of the first steps is to pick a real estate agent to work with. But what if you decide that you don’t want to work with a buyer’s agent to buy your home? Well, welcome to your step-by-step guide to buying a home without a real estate agent. You’ve decided it’s time to buy a house ! Find a lender you can trust. Find a home.

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HomeLight

OCTOBER 30, 2020

All-cash offers are beloved by sellers and real estate agents alike — and they’re more than three times as likely to be chosen from the pack. And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. Because it’s fast.

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HomeLight

DECEMBER 30, 2023

Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want. If the buyer fails to secure financing, they can withdraw without losing their deposit.

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The Close

AUGUST 6, 2024

As their agent, you must also know how to protect your clients through the as-is selling process and understand the nuances such as navigating inspections and disclosures. However, buyers could consider a HUD 203(k) Rehabilitation Mortgage Insurance Program for properties that don’t meet the MPR. Expect lower offers.

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HomeLight

MARCH 23, 2021

You may wonder, what does a real estate agent even do? According to the National Association of Realtors®, 88% of homebuyers purchased their home in 2020 through a real estate agent , and for good reason. Real estate agents are essential advocates through the homebuying process. What is a real estate agent?

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Realty Biz

FEBRUARY 20, 2021

Most buyers will have a home inspection contingency in their contract. In extreme seller’s real estate markets, it is not uncommon for buyers to waive a home inspection as a way of sweetening their offer. Real Estate Contingencies Explained. Home sale contingencies are often frowned upon due to their risky nature.

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Purchase and sale agreement Inspection contingency Earnest money deposit Home sale contingency 137

HomeLight

NOVEMBER 8, 2024

We’ll also share tips on how you can make a strong, non-contingent offer so you’re not stuck in the pending zone. Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want.

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Windemere Buying

APRIL 12, 2023

Real Estate Agent You’ll be represented by a buyer’s agent throughout the home buying process. When searching for a real estate agent, ask questions to gain an understanding of their professional expertise as well as their personality. Mortgage Lender You need financing to buy a home.

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HomeLight

JANUARY 12, 2024

We’ll also share how, as an existing homeowner, you can make a stronger non-contingent offer to get the home you want. Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want.

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Loan contingency Loans Earnest money deposit Inspection contingency 111

HomeLight

JANUARY 13, 2022

You’re getting ready to call your agent to schedule a showing when you notice that the listing says the property is “active contingent.”. What on earth does active contingent mean? Barnes has completed 10% more deals than the average agent in his area. Inspection contingencies. Appraisal contingencies.

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HomeLight

JANUARY 3, 2024

Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want. Kaczor , a top-selling agent from Illinois with 30 years of experience. “It

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 115

RIS Media

MAY 19, 2021

When your real estate agent puts your home in the multiple listing service, it will have an “Active” status. ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Financing or Mortgage Contingencies.

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Realty Biz

APRIL 20, 2022

Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause. Mortgage Financing Clause.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 104

Redfin

AUGUST 4, 2021

Keeping track of the differences between a listing agent, selling agent, seller’s agent, and even buyer’s agent can be a bit challenging, so learning to quickly recognize what these terms refer to in real estate can help you move forward confidently with buying or selling your home. What is a listing agent?

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Realty Biz

DECEMBER 31, 2020

There will be another important snag for people that are on-the-edge of being able to qualify for a mortgage. Because limited inventory means lenders will be approving a limited number of mortgages, lenders will be able to cherry-pick the ones they approve. You should think long and hard before waving the inspection contingency.

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HomeLight

DECEMBER 29, 2023

In this brief guide, we’ll provide an overview of what it means to make a non-contingent offer, its benefits, risks, and when it might be the right strategy for you. Partner With a Top Buyer’s Agent to Guide You HomeLight can connect you with a top-rated local real estate agent familiar with non-contingent offers.

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Realty Biz

DECEMBER 5, 2022

Let's look at what you need to know about home inspection negotiations. How to Negotiate Problems Found at a House Inspection. What Will Happen After a Home Inspection? The home inspection contingency in a real estate contract allows the buyer to back out of the sale when there are issues.

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Inspection Earnest money deposit Purchase and sale agreement Inspection contingency 138

Point2Homes

DECEMBER 7, 2020

If your ability to afford the mortgage payments on the home you want to buy is causing you concern, buying a foreclosure home may make a lot of sense. If a homeowner fails to keep up with their mortgage payments, the lender can begin foreclosure proceedings, and the sale of foreclosed homes can sometimes be a bargain to home buyers.

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HomeLight

NOVEMBER 29, 2021

These are called contingencies, and they’re very common in a real estate sales contract. They’re basically in every purchase agreement ,” says Rick Ruiz , a top real estate agent in Las Vegas, Nevada , who completes 15% more sales than the average Las Vegas. Financing contingency. Inspection contingency.

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Purchase and sale agreement Home sale contingency Inspection contingency Earnest money deposit 111

Point2Homes

DECEMBER 23, 2021

An escrow agent will oversee this account, releasing the funds to go toward paying for the home if everything goes according to plan. Often, a title company or real estate agent might act as the escrow agent responsible for managing the funds as agreed upon in the contract. Buyers Escrow. Escrow & Lenders.

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HomeLight

AUGUST 5, 2024

Buyer contingencies might include “an engineer’s inspection, a chimney inspection, a furnace inspection, a mortgage contingency, and an attorney’s appraisal,” says top-selling real estate agent Mark Siwiec of Rochester, New York, who has 44 years of real estate experience. Step one: Talk to an expert!

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Realty Biz

SEPTEMBER 2, 2021

Since selling your home can be a lengthy process that involves choosing an agent, estimating costs, preparing your home , setting the price, and finally finding the right buyer, the consequences of a mistake along the way can have wide-ranging implications. . Choosing the Wrong Agent. Most agents’ commission is negotiable.

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HomeLight

JULY 31, 2020

With the help of Brad Graves , a top real estate agent in San Antonio, Texas , and some recent national home purchase data, we’ll examine the pros and cons of all-cash offers. To be clear, an all-cash offer means you won’t be getting a mortgage loan for any portion of the sale. Pro #1: Limited contingencies.

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Purchase and sale agreement Inspection contingency Proof of funds Finance 98

RIS Media

APRIL 12, 2021

Buyers usually have a house inspected before they proceed with a purchase. The exact language related to a home inspection contingency can vary from one contract to another. In some cases, a contingency gives the buyer the option to request repairs, a repair credit or simply walk away.

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Inspection contingency Inspection Agents Sales 98

HomeLight

JULY 6, 2023

That’s why it’s important for your real estate agent to keep your property’s status up to date, both in the multiple listing service (MLS) that agents cooperatively use, as well as in online marketplaces, which pull data from the MLS. contingent,” so you can present your home accurately and still meet your selling goals.

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Realty Biz

JULY 6, 2022

Real Estate agents need to be proactive and set proper expectations with the seller clients. A real estate agent should always be cognizant about over promising and under delivering. One of the statistics real estate agents often talk about is the list price to sale price ratio. Not doing so can lead to severe disappointment.

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Point2Homes

DECEMBER 8, 2020

A home listed as contingent means the seller has accepted an offer. However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals.

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HomeLight

SEPTEMBER 10, 2022

Understanding the implications of a kick-out clause can make the difference between buying the home you want and being saddled with two mortgages (or not being able to qualify for financing). Real Estate Agent. Real Estate Agent at RE/MAX Accent. An inspection contingency. An appraisal contingency.

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HomeLight

MARCH 2, 2022

You’ve done the work to get your home ready to sell — repainted rooms a neutral color and taken care of minor repairs, hired a great real estate agent , staged it to perfection , kept it clean for open houses and home tours — and now you’ve accepted an offer. Up next: The home inspection. Video Credit: Corinne Rivera / HomeLight).

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HomeLight

JANUARY 27, 2021

But there’s so much to keep track of along the way: hiring an agent, getting a mortgage, making offers, and closing the deal. We tapped the expertise of top Illinois real estate agent Jen Ortman , who walked us through some of her best advice for buyers. Hiring an agent. Hiring an agent is a big deal.

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HomeLight

JUNE 30, 2021

With a sales contingency in your offer, you won’t have to close on your new home unless you’ve sold your old home. But a sales contingency could also make it harder to get an offer accepted. A “contingency” is another way to say “a term or condition that must be met before the sale can move forward as planned.”.

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HomeLight

JULY 26, 2022

But this sign looks different from the real estate agent signs you usually see and it lists the homeowner’s contact information. A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent. You’ve found yourself a FSBO home. What is a FSBO home?

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Realty Biz

OCTOBER 19, 2022

Sometimes the lender requires a home inspection to be completed, which shouldn't be confused with a home appraisal which is almost always required. Even if the lender doesn't require the home inspection, it is recommended. If the home was built before 1978 and you have children under the agent of six, it is wise to test for lead paint.

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HomeLight

SEPTEMBER 25, 2020

But carrying debt on real estate by way of a mortgage loan is an entirely different scenario. How should you think about paying vis-a-vis cash vs mortgage? There are many advantages — including financial liquidity, tax advantages , and credit-building potential — to purchasing a home with a mortgage.

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