Point2Homes

DECEMBER 8, 2020

A home listed as contingent means the seller has accepted an offer. However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. Short Sale. No Showings.

Purchase and sale agreement 145

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

HomeLight

OCTOBER 11, 2021

You see a house you love, but the listing shows that it is an “active pending short sale.”. Can you still make an offer on the house, or are you out of luck? And just what is a short sale, anyway? Is a short sale home purchase for you? And can you still make an offer on an active pending short sale?

Short sale 101

Short sale Sales Banks Backup offer 101

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 Inspection contingencies.

Backup offer 97

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

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. Buyers also can use the findings of an inspection to negotiate for repairs or credits. Why have a backup offer on hand? Quite simply, life happens.

MLS 105

MLS Backup offer Inspection contingency Purchase and sale agreement 105

HomeLight

NOVEMBER 8, 2024

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. Bank denies short sale offer: In a short sale , the bank must approve the sale terms.

Inspection contingency 94

Inspection contingency Backup offer Inspection Home sale contingency 94

HomeLight

NOVEMBER 1, 2021

You priced your home based on recent home sale(s) for which the buyer(s) paid well over appraised value. Short sales or foreclosures in your area have driven home prices artificially low. What happens if the home sale falls through? Property values in your area are beginning to decline. Your home is overpriced.

Purchase and sale agreement 111

Purchase and sale agreement Proof of funds Backup offer Finance 111

HomeLight

DECEMBER 30, 2021

The only thing that stands between you and a sale is the appraisal. After being under the microscope at open houses and inspection, you may wonder: What’s the point of this final examination? Pre-listing appraisal: In the San Francisco Bay area, pre-sale appraisals and inspections are common. You’re ready to move on.

Loans 119

Loans Agents Inspection Closing 119