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. The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. If you refuse and you can’t come to an agreement, they’re free to walk away.

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

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. Financing contingency Sometimes called a mortgage contingency , this specifies that the deal hinges on the buyer securing their loan.

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MLS Backup offer Inspection contingency Purchase and sale agreement 105

RIS Media

MAY 19, 2021

” What do they mean and how will they affect your home sale? Despite this, there can still be room to negotiate the conditions of the sale. The contingent label in a listing indicates that the seller has accepted the offer; however, certain things need to happen before things can move on. Contingent Meaning.

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

HomeLight

JUNE 29, 2022

Before you post the “for sale” sign in your front yard, it’s important to prepare yourself for a critical part of the home-selling process : negotiating with buyers. Here are nine expert house negotiation tactics to help you on your way to a successful sale. Making enough money off the sale to fund the downpayment on a new home.

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Earnest money deposit Purchase and sale agreement Closing costs Closing 111

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. You’re hesitant to put all of your proverbial eggs in one buyer’s basket when the sale might never actually happen. Source: (Paul Siewert / Unsplash).

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

First Team Real Estate

NOVEMBER 9, 2020

With mortgage rates remaining at historic lows, it’s actually more affordable to purchase a home today than it was last year, even though home prices are continuing to rise. Contact listing agents whose listings are currently in escrow that fit your needs and check the sales status.

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Agents Purchase and sale agreement Backup offer MLS 93

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.” This could be related to financing, inspection reports, or other factors that need to be addressed before the deal can proceed. What Does “Under Contract” Mean?

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Backup offer Purchase and sale agreement Inspection Finance 52

Windemere Selling

NOVEMBER 30, 2022

The following information is meant to clarify some common real estate terms that describe a home for sale and its position in the closing process. And for buyers, it helps to be familiar with these terms when searching for your next home and how they factor into making an offer. Image Source: Getty Images – Image Credit: xavierarnau.

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Purchase and sale agreement Backup offer Home sale contingency Inspection 52

Windemere Buying

JUNE 22, 2022

Making an offer on a house feels like a reason to celebrate. You’ve applied for financing , worked with your agent to search for available listings, put in time attending open houses, and have found the place you’re ready to call home. So, what happens after you make an offer on a house? Now you’re ready to close!

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Purchase and sale agreement Inspection contingency Backup offer Seller concession 52

Toronto Realty Blog

NOVEMBER 3, 2021

In that 2019 blog post, I explained what happens when a buyer, after signing a firm agreement of purchase and sale, doesn’t show up with the deposit the next day. The buyer of the house was an agent purchasing for her own family. This sale was signed, sealed, and delivered, so to speak.

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Purchase and sale agreement Closing Backup offer Agents 99