Realtor.com

JANUARY 12, 2021

While laws vary by state, in general, up until that contract is signed by both parties—even after counteroffers have been sent out—all new offers can be considered and accepted. That’s why it’s so important that sellers are confident that they want to accept an offer before signing. Here’s what home sellers need to know.

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Backup offer Purchase and sale agreement Due diligence Inspection 115

Realtor.com

APRIL 9, 2021

In most cases, a property is listed as “under contract” once a buyer has made an offer and the seller has accepted. Since it’s possible for any of these items to fall through along the way, seller’s agents will sometimes take backup offers. ” But what does “under contract” mean?

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Backup offer Sales Closing Inspection 144

Point2Homes

DECEMBER 8, 2020

A home listed as contingent means the seller has accepted an offer. Up until this time, the home can continue to be shown to other potential buyers and offers can still be accepted. This status is used when the seller has accepted an offer with contingencies that don’t have to be completed by a certain date. Kick-Out Clause.

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Purchase and sale agreement Backup offer Home sale contingency Short sale 145

HomeLight

JANUARY 13, 2022

We’ve consulted with real estate experts and combed through the available data to help you understand what an active contingent listing is, what it means for buyers looking to put an offer on the home, and what buyers can do to make offers on active contingent listings more competitive. Many offers contain contingencies.

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Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 97

Realty Biz

SEPTEMBER 14, 2021

The seller has agreed to accept a contingent offer from the purchaser. During this time, the seller can still accept backup offers from other interested parties. What is Active Under Contract? In other locations, the sale may be referred to as being contingent in the multiple listing service (MLS).

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Backup offer Purchase and sale agreement Inspection Sales 126

HomeLight

JULY 6, 2023

Contingent: The deal hinges on certain conditions “Contingent” usually means that you, the seller, have accepted an offer, but the offer is contingent on fulfilling certain criteria. Step one: Talk to an expert! Selling your house soon? Learn More Contingent or pending, you’re under contract!

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MLS Backup offer Inspection contingency Purchase and sale agreement 105

Realty Biz

NOVEMBER 11, 2020

For example, if a home sale is contingent or pending, can you still make an offer? How your real estate agent markets your property when an offer has been accepted can have vital implications. When a home sale is listed as contingent, it means that the seller has accepted an offer with contingencies. What does Contingent Mean?

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Backup offer Home sale contingency Sales Earnest money deposit 111

Realtor.com

NOVEMBER 28, 2022

You’ve accepted the offer , which means you’re in wedded bliss and off the market, so to speak, right? This states that although you’re currently under contract, you’re allowed to kick out the buyer for a better offer that comes along during the contract period, Edgar says. “As Sure, you’ve found a (nearly) perfect buyer.

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Backup offer Inspection Closing Loans 119

The Residential Specialist

DECEMBER 31, 2020

Dealing with multiple offers can overwhelm sellers, who are already going through an emotional and challenging journey by selling their homes. She and her co-owner/broker, Renee Silk, recently dealt with the biggest multiple-offer situation in their 27-year history: 16 showings and 10 offers on a modest brick ranch house within 24 hours.

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Backup offer Pre-approval Agents Banks 98

Realtor.com

SEPTEMBER 14, 2020

We actually received multiple offers. It is currently under contract, and I have a backup offer as well,” she notes. The new owners, she says, made an offer without even seeing the property in person. In every room. It was his life’s mission to wallpaper his home in beer cans,” Kearney says, “and he did it.”.

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Backup offer Closing As-is Marketing 135

RIS Media

APRIL 8, 2022

Once you find your dream home and it happens to be marked as contingent, you can still place an offer. An active listing means the home in question is currently on sale, and sellers are actively open to offers. Here’s all you should know about contingent sales as a potential home buyer. Contingent meaning. These include; .

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Debt-to-income ratio Title search Backup offer Home sale contingency 144

HomeLight

JULY 23, 2021

Since most homes for sale are made available through the MLS — which syndicates to lots of different real estate websites and makes properties available to all agents within the region — it’s fair to wonder if a house with an offer on it will be removed from the MLS. Will a house with an offer on it be removed from the MLS?

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MLS Backup offer Agents Purchase and sale agreement 111

HomeLight

DECEMBER 31, 2020

Sale pending is the status in between active and sold, which indicates that you’ve accepted an offer and are in the process of selling, but that the sale is not yet completed. If you receive another offer, your original buyer will have a certain period of time (usually 24, 48, or 72 hours) to remove the contingency holding up escrow.

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Closing Backup offer Sales Inspection 105

HomeLight

JANUARY 5, 2022

It’s not unheard of for sellers to receive higher offers after signing a purchase agreement and want to back out of the contract. Typically, the seller’s agent stops accepting offers once the home is pending sale. However, it’s often a good idea to table backup offers, which may come into play if the sale falls through.

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Purchase and sale agreement Backup offer Inspection Agents 111

RIS Media

APRIL 18, 2022

There’s no guarantee that the property you like will be available when you’re ready to make an offer. Multiple offers and bidding wars on houses are the norm, not the exception. You may see some of these things or all of them before making an offer. It will help tailor your offer when the time comes.

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Pre-approval Backup offer Due diligence Rent back 119

Realty Biz

NOVEMBER 15, 2021

They were finally successful after a search lasting more than five months, when they made an offer on a home within an hour of seeing it last February. They were told immediately afterwards that the home was already under contract, though their backup offer of $780,000 was eventually accepted after the first transaction fell through.

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Backup offer Inspection Land Technology 103

First Team Real Estate

MAY 27, 2021

Of the four luxury real estate sales I closed in April, three of the transactions were backup offers, and another I secured for my client through targeted outreach with an “I have a buyer letter.” What would you say is your greatest strength? What tools, resources, and techniques have helped your business thrive?

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Agents Backup offer MLS Closing 98

Windemere Selling

MAY 16, 2022

If a buyer is hesitant about purchasing a home, the best time to back out of the deal is before their offer is accepted. Buyers will typically include contingencies in their offer to specify the criteria that will allow them to walk away from the deal unscathed and the timeframes for doing so.

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Backup offer Purchase and sale agreement Inspection Agents 52

HomeLight

NOVEMBER 1, 2021

If you’re selling your home in a hot market rampant with bidding wars that drive up the purchase offers on home sales, you may realize that your home is unlikely to appraise for the inflated purchase offer or even for your asking price. An appraisal gap is the difference between the purchase offer and the appraised value of the home.

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Purchase and sale agreement Backup offer Proof of funds Finance 111

Realty Biz

MAY 24, 2021

Learn the number of days these houses have been staying on the market before an offer is made. Learn if the offers have been below the asking price, full asking price, or if a bidding war took place. Even if you are outbid, make your best offer a backup offer. Some buyers will offer more than they can deliver.

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Backup offer Marketing Residential MLS 90

HomeLight

OCTOBER 20, 2020

As any seller would be, you’re thrilled when an offer comes in for your property — but that excitement fades when you find out it’s contingent on the sale of the buyer’s home. In real estate, a “contingent” offer means that one or both parties have requested certain provisions before the deal closes.

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Backup offer Purchase and sale agreement Earnest money deposit Home sale contingency 81

First Team Real Estate

MAY 14, 2021

Brandice and her team go to bat for their clients on everything from preferred timeline, inspections, closing costs, backup offers, repairs, and so much more. Here’s how The Presley Group saves their clients more money than Zillow, helping homeowners sell for top dollar within Seal Beach and all of Southern California.

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Realtor.com

DECEMBER 31, 2020

But if you truly dig the vibe, there may be a slim chance—the sellers are accepting backup offers. And when they do, they wind up selling in a flash. Such is the case with this snazzy ranch house built in 1958 and listed on Christmas Eve at $1,299,000. The Atomic Age beauty went under contract within three days. Dining room.

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Backup offer Land Design Residential 88

HomeLight

NOVEMBER 8, 2024

Can you still make an offer? We’ll also share tips on how you can make a strong, non-contingent offer so you’re not stuck in the pending zone. In real estate, “pending” means a seller has accepted an offer, and the property is under contract , but the sale hasn’t yet closed. Can a buyer make an offer on a ‘pending’ house?

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Inspection contingency Backup offer Inspection Home sale contingency 94

Easy Agent Pro

JUNE 8, 2021

Multiple offers? how to buy a house before selling yours” is a trending Google search term (spiking 160% last week) so offering an answer in blog form is a wise move. As we all know, there’s more to an offer than price. There is another way to rank higher: blogging, consistently. What topics would be of interest to homebuyers?

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Agents Purchase and sale agreement Backup offer Title 116

The Close

APRIL 26, 2022

Agents who are neighborhood specialists typically have sellers who would sell their home if they got an offer they can’t refuse , as well as other homesellers who are preparing their home to sell it in the next few months. The goal is to make their seller client an unbeatable offer even before they’ve signed a listing agreement.

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Backup offer Purchase and sale agreement MLS Agents 98

RIS Media

MAY 15, 2021

The seller, despite having 13 backup offers, instructed his listing agent to contact “that agent” who came to his house with the “little girl” before putting the house back on the market—a testament that screams volumes about RomeoDiSantillo and how she puts herself out to the world. The kicker?

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Backup offer Inspection Residential Agents 104

HomeLight

JUNE 9, 2023

A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet. If you receive a contingent offer as a seller, statistically speaking, that deal is likely to still close. ” So, what does contingent mean in real estate?

Home sale contingency 145

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

Marco Santarelli

APRIL 15, 2023

When a buyer submits an offer to purchase a property, and the seller accepts that offer, the property is considered “under contract.” However, in some cases, you may still be able to make an offer on a property listed as under contract. What Does “Contingent” Mean? What Does “Pending” Mean?

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Backup offer Purchase and sale agreement Inspection Finance 52

First Team Real Estate

NOVEMBER 9, 2020

In today’s active seller’s market with multiple offers, as a homebuyer, you need to make sure you’ve found an agent who’s truly committed to helping you find your next home at favorable terms. You deserve an agent who listens, understands, and develops a plan of action personalized to you.

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Agents Purchase and sale agreement Backup offer MLS 93

Realty Biz

JUNE 30, 2021

You’ll be viewing properties online, talking to agents, touring houses, and making offers even when you think someone else will make a better offer. But you never know when your backup offer might be the one that goes to the closing table. There will almost certainly be other offers within the first few days.

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Backup offer Inspection Agents Closing 107

Redfin

MARCH 5, 2025

Explore online listings Exploring online listings is one of the most efficient ways to find your next home, and Redfin offers an excellent platform for doing just that. These neighborhoods might still have lower home prices but could see appreciation over time, offering not just a good deal now but also a solid investment for the future.

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Debt-to-income ratio Backup offer Finance Pre-approval 35

RIS Media

MAY 19, 2021

The contingent status typically allows the home to be shown to other possible buyers, allowing backup offers to be made. If the appraisal comes in lower than the amount the buyer has offered, it could stop the purchase in its tracks—problems like this account for nearly 20% of delayed contracts. Contingent vs. Pending?

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Purchase and sale agreement Earnest money deposit Inspection contingency Home sale contingency 98

HomeLight

SEPTEMBER 16, 2022

The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. We all know the feeling of angst that hits as we move closer to the barista at a coffee shop to order a morning java. If you don’t know what you want, the line disappears too quickly. What is an option period?

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Option period Earnest money deposit Due diligence Inspection 110

Norada Real Estate

APRIL 20, 2023

Can a seller accept another offer while under contract? If a house is under contract, can I still make an offer? When a seller accepts an offer from a buyer, they sign a contract that outlines the terms of the sale. When a seller accepts an offer from a buyer, they sign a contract that outlines the terms of the sale.

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Backup offer Due diligence Finance Inspection 52

Realty Biz

JULY 25, 2023

It's important to understand the contingencies in a real estate contract before you make an offer on a property. When you're looking to buy a home, you'll likely come across the terms "under contract" and "pending sale." These terms are often used interchangeably, but there is a subtle difference between them. Let’s take a closer look.

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Sales Inspection Inspection contingency Backup offer 87

HomeLight

OCTOBER 11, 2021

Can you still make an offer on the house, or are you out of luck? And can you still make an offer on an active pending short sale? The lender has the final say on these types of sales, and all offers must go through them. With a short sale, the bank is the one accepting the offer,” he says. Wait, what?

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Short sale Sales Banks Backup offer 101