HomeLight

MARCH 20, 2023

Most often, this type of scenario calls for a home sale contingency. With the help of real estate agent Jesse Allen , a single-family home expert in southern Indiana , we’ll help to explain the ins and outs of home sale contingencies, and offer additional alternatives for buyers who currently own a home.

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

Housing Wire

FEBRUARY 14, 2024

Consequently, 37% of homeowners say they want to move but are staying in their current home. Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies. Calque provides homeowners with a Purchase Price Guarantee (i.e.,

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Backup offer Loan Officer Home sale contingency Branding 425

HomeLight

NOVEMBER 8, 2024

Why might a home be listed as pending? A home is marked as pending once an offer is accepted and both parties have agreed to the sale’s terms. This can mean that the buyer’s financing is approved, the inspection contingency is met, or any appraisal concerns are resolved. However, there can be exceptions.

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Inspection contingency Backup offer Inspection Home sale contingency 91

HomeLight

JULY 6, 2023

In the meantime, with a “Contingent” status, the seller is typically allowed to continue showing the home and accept backup offers in the event something goes awry. So what are the contract stipulations that put a listing into that “Contingent” stage, and how common is it for a property to hang in closing limbo?

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MLS Backup offer Inspection contingency Purchase and sale agreement 105

HomeLight

JANUARY 13, 2022

Common contingencies include issues with appraisals, home inspections, or the buyer’s home sale. In other words, the primary deal on an active contingent listing might (maybe) fall through, causing sellers to place their home back on the market — or accept a backup offer. “I

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

HomeLight

JUNE 9, 2023

If the appraisal comes in low, you’ll need to negotiate a lower sale price, ask if the buyer can make up the difference in cash, or challenge the first appraisal if there’s reason to believe it was flawed. According to NAR, 78% of recent buyers financed their home purchase in 2019, making this contingency incredibly common.

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

Point2Homes

DECEMBER 8, 2020

As the buyer works to meet these contingencies, other potential purchasers can view the property and make offers — but the offers will be put into what is called “backup status.” A backup offer is not uncommon in real estate sales. Common Contingencies Found in Real Estate Contracts.

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