Housing Wire

FEBRUARY 14, 2024

Buy before you sell’ (BBYS) products like The Trade-In Mortgage powered by Calque eliminate the stressors caused by financing contingencies. Also, BBYS products make homeowners competitive bidders because they can submit non-contingent offers that can compete with cash offers, which made up one-third of winning offers in Q4 2023.

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Backup offer Loan Officer Home sale contingency Branding 448

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. Real estate listings go through different stages. An active listing means the home in question is currently on sale, and sellers are actively open to offers. Finances falling through. Contingent meaning. It depends.

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

Realty Biz

NOVEMBER 11, 2020

The Mortgage Financing Contingency. While it is rarer for a home sale to fall apart because of a buyer not getting financing, it is still something where due diligence is essential. Most of the time, when a home is at the contingent stage, sellers are still interested in offers from other parties.

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Backup offer Home sale contingency Sales Earnest money deposit 111

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 5, 2022

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. Seller’s agents are obligated to present all offers to the seller, even after a contract has been signed,” says Garrett.

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Purchase and sale agreement Backup offer Inspection Agents 111

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. Financing or Mortgage Contingencies. The majority of homebuyers use a mortgage to finance their purchases. Financing problems delay closing in around a third of all real estate transactions.

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

Marco Santarelli

APRIL 15, 2023

This could be related to financing, inspection reports, or other factors that need to be addressed before the deal can proceed. If you're selling your home, setting contingencies protects you if something comes up with either buying another property or finding an acceptable offer from someone who wants to buy yours.

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Backup offer Purchase and sale agreement Inspection Finance 52