HomeLight

JANUARY 3, 2024

It means the buyer and seller have agreed to the terms of the contract, such as the price, the closing date, the personal property, the earnest money, tax preparation, and contingencies.” What contingencies might be attached to ‘under contract’ listings? There are four common types of real estate contract contingencies.

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HomeLight

JANUARY 12, 2024

Whether you’re just starting to explore the housing market or are in the midst of deciding whether to remove a loan contingency from an existing offer, this guide is tailored for you. We’ll also share how, as an existing homeowner, you can make a stronger non-contingent offer to get the home you want. What is a loan contingency?

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Realty Biz

DECEMBER 5, 2022

One of the most vital phases of buying a house is having it inspected. Home inspections over the last few years were few and far between. The crazy hot seller's market forced many home buyers into forgoing their inspection. Let's look at what you need to know about home inspection negotiations.

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Redfin

MARCH 7, 2025

One of the most common questions that come up during this phase is: who pays for the home inspection? In this Redfin article, well break down who pays for the home inspection and answer other common home inspection questions. What is a home inspection? A home inspection is a thorough evaluation of a propertys condition.

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HomeLight

OCTOBER 1, 2020

Will you lose your deposit? You now have skin in the game in the form of your earnest money deposit, plus you have a legal duty to buy the home (barring certain circumstances). So as a buyer, you should have a contingency in your contract to protect you in case you can’t get proper financing for the home.

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Realtor.com

SEPTEMBER 18, 2020

We got lucky, but it left me wondering: Is it ever OK to waive a home inspection? Should you ever waive a home inspection? But waiving a home inspection comes with sizable risks. The risks of waiving a home inspection. ” Why people are waiving home inspections during the COVID-19 era.

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HomeLight

SEPTEMBER 22, 2020

The “best” component refers to all the other terms included in a contract that can be tweaked to sweeten the deal — such as waived contingencies , putting down more cash upfront , or offering a more flexible closing date. It’s official: Your house is a hot commodity. Your biggest fear? Picking the wrong offer. and that’s it,” says Lunger.

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Norada Real Estate

APRIL 15, 2023

Purpose of Under Contract The purpose of the under-contract period is to allow both parties to fulfill any contingencies and prepare for closing. However, the duration can be influenced by several factors, such as contingencies, negotiations, and local regulations. But how long can a house be under contract?

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HomeLight

JULY 26, 2022

Knowing that they will save money by not paying the listing agent’s commission, a seller might list their home at a lower price than they would if they had hired an agent. When both parties work with agents, you’ll likely go through them to schedule showings, inspections, appraisals, and offer submissions. Is it a yard sale?

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HomeLight

OCTOBER 30, 2020

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. Suddenly, you have less money than you realized. Another issue that can come up is when a buyer wires money to the wrong account (imagine the horror!).

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RIS Media

MAY 19, 2021

” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Pending Meaning.

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HomeLight

MARCH 2, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. If this all sounds perfect and you’re getting serious about purchasing a home in San Diego, read on.

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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. Help From the Seller.

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

HomeLight

NOVEMBER 29, 2021

But first, you have to sell your old home, potentially secure financing, and secure a home appraisal (and likely an inspection) on your new house. Most purchase agreements have some terms in place that must be met for the deal to go through, such as having a home inspection completed. Do contingencies benefit homebuyers?

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

Point2Homes

DECEMBER 23, 2021

As a buyer, you’ll be required to pay a deposit that will go into an escrow account. Therefore, holding the buyer’s funds in escrow encourages them to continue with the deal because their money is at risk. But, if a contingency protects the buyer, they should get most of their deposit returned to them. What is an Escrow?

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HomeLight

SEPTEMBER 1, 2022

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. She adds that Florida also has numerous down payment assistance programs, many of which are tied to state bond money.

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HomeLight

SEPTEMBER 1, 2022

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Let’s dive into the steps of buying a house in Connecticut: 1. Assess your readiness.

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Earnest money deposit FHA loan Purchase and sale agreement Inspection 111

First Team Real Estate

AUGUST 8, 2021

Approximately 25% of all escrows fall through because of inspection contingencies, lending hiccups, appraisal surprises, and more. The difference between a primary offer and a backup offer is that the backup offer’s contractual viability is contingent on the primary offer not going to escrow. of offers faced bidding wars.

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HomeLight

MARCH 6, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. The Bay Area is also close to beaches, national parks, and the wineries of Napa Valley.

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HomeLight

JULY 31, 2022

You’ve decided it’s time to buy a house ! 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. Find a lender you can trust. Research your ideal neighborhoods.

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Realty Biz

NOVEMBER 11, 2020

For example, if a home sale is contingent or pending, can you still make an offer? Let’s take a closer look at the meaning of contingent , so you can see how it might affect a home you are looking to buy. For example, some agents will mark your home contingent, while others will mark pending. What does Contingent Mean?

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Realty Biz

AUGUST 22, 2022

I didn’t even include an inspection contingency. I’m almost certain that your biggest concern is about what will happen with your earnest money if you back out of the deal. I’m almost certain that your biggest concern is about what will happen with your earnest money if you back out of the deal.

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Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 95

HomeLight

AUGUST 9, 2022

Since a down payment is, as the term suggests, the amount of money you’re putting down on the purchase of your home, your mortgage lender will need to see proof of these funds fairly early on in the approval process. But that doesn’t mean the money will leave your account just yet. Let’s jump in! When is the down payment due?

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Redfin

AUGUST 29, 2024

However, there are a lot of things to learn about how to buy a house, like current mortgage rates, your credit score, home inspections, and closing costs. As interest rates are dropping , now may be the time to buy a house. Long-term goals Do you plan to live in an area for at least five years? 3,000/$7,000 = 0.42

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HomeLight

JULY 31, 2021

The bills are stacking up or perhaps you lost some income recently, and the money tied up in your home would help a ton at a time like this. turn four walls and a roof into money in the bank, without the need for inconvenient showings, nail-biting appraisals , or a 50-day closing. What you have is a house. What you need is cash.

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The Close

SEPTEMBER 10, 2020

When writing the offer with this strong of an approval letter, it allows you to have a shorter financing contingency time and more emphasis on the appraisal contingency time frame. Include an As-is Home Inspection Contingency. You guessed it: the home inspection. You never know what to expect day to day.

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HomeLight

JUNE 30, 2021

This is why many buyers make offers on their new home that include a sales contingency. With a sales contingency in your offer, you won’t have to close on your new home unless you’ve sold your old home. What is a contingency? Regardless of its format, it will include contingencies.

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Realty Biz

JANUARY 9, 2024

Selling your first home can be an exciting yet overwhelming experience. As a first-time home seller, you'll want to navigate the process smoothly, maximize your profit, and minimize stress. To help you achieve these goals, we have compiled a list of essential tips that will guide you through the process. It is no longer a robust seller's market.

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HomeLight

MARCH 20, 2023

Find a Top Agent With Experience in Home Sale Contingency Offers If you are considering a home sale contingency, you’ll want a top agent by your side when you make the offer. Find a Buyer's Agent What is a home sale contingency? Thus, the purchase agreement is “contingent” on the sale of the buyer’s existing home.

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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 105

Redfin

JANUARY 26, 2022

For instance, if the buyer’s home inspection turns up a problem with the home, the buyer may be able to negotiate a reduced purchase price. 2) Earnest money details: The PSA will include information on the earnest money deposit, such as the dollar amount and instructions for making the deposit.

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Purchase and sale agreement Earnest money deposit Sales Title 59

HomeLight

JULY 31, 2020

Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. It almost certainly will not move as quickly as anticipated. is not a simple or finite one.

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Closing Purchase and sale agreement Title search Earnest money deposit 119

HomeLight

JULY 29, 2022

Home appraisals serve to help buyers avoid overpaying for a property and help the lender avoid lending a buyer more money than the home is worth. And, there are a lot of steps to the process that may seem surprising or unexpected. You may be wondering — when is the appraisal done when buying a home? Let’s dive into what you need to know.

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HomeLight

JANUARY 27, 2021

An agent’s job is to advocate for you and save you money during the complicated process of buying a home. Not only should your agent close a lot of deals, but they should be able to demonstrate through their results how they’ve saved other buyers money and helped them close quickly. Here’s what you need to know before buying a home.

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HomeLight

JANUARY 3, 2023

While this is a general guide to selling a house by owner in Colorado, we always recommend that you look into the local regulations for your area and consult with a qualified legal professional before taking action. Higher interest rates have been cooling the housing market nationwide, and real estate in Colorado is no exception.

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HomeLight

MARCH 16, 2023

The newbie with little experience doesn’t have the money to keep it long term. It takes a lot of money to fix the house and keep it with holding and carrying costs,” Ramcharitar points out. Need to Sell Your House Fast in Houston? Receive your offer within a week and close in as little as 10 days. Available to sellers in Texas.

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CT Homes

OCTOBER 30, 2020

Find and Qualify your Buyers Compare Contracts Offer Terms Inspection Contingency Earnest Money Deposit Closing Period Accept an offer and Open Escrow Monitor Transaction Deadlines Close Escrow. It’s reasonable to expect that any any buyer will perform some type of inspection after you accept an offer.

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CT Homes

OCTOBER 30, 2020

Find and Qualify your Buyers Compare Contracts Offer Terms Inspection Contingency Earnest Money Deposit Closing Period Accept an offer and Open Escrow Monitor Transaction Deadlines Close Escrow. It’s reasonable to expect that any any buyer will perform some type of inspection after you accept an offer.

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Earnest money deposit Purchase and sale agreement Inspection Inspection contingency 52