RIS Media

APRIL 18, 2022

It may make sense to put in a backup offer when you’re not the winning bidder. Many buyers will put in offers on homes that are contingent just in case the home of their dreams comes back on the market. . Get pre-approved for a mortgage. The terms of the loan. This one is a biggie. Talk to neighbors.

Pre-approval 119

Pre-approval Backup offer Due diligence Rent back 119

Realty Biz

NOVEMBER 11, 2020

If you follow all of the proper steps in selling a home , you will never have to worry about accepting an offer with a home sale clause. This contingency is often required by lenders to make sure the home is worth what the buyer has offered for it. In real estate jargon, this is referred to as a “backup offer.”

Backup offer 111

Backup offer Home sale contingency Sales Earnest money deposit 111

RIS Media

APRIL 8, 2022

While financing may be pre-approved, the process is complex. Real Estate appraisals are usually completed when homes are bought via mortgage loans. If you put an offer on a property marked contingent, you could be the next buyer should the current contract fall through. Low appraisal. It depends.

Debt-to-income ratio 144

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

First Team Real Estate

DECEMBER 7, 2020

Having several offers on your home is fantastic, however, how do you guarantee you pick the very best deal and don’t miss out on an even better one? The purchasers will not get this cashback if they back out of the offer unless defined in the agreement. The greater the deposit, the much better.

Purchase and sale agreement 98

Purchase and sale agreement Pre-approval Title Backup offer 98

HomeLight

JUNE 9, 2023

average % of contracts with an appraisal contingency: 80% Financing contingency Also known as mortgage contingency , the financing contingency states that the buyer can back out of the deal if they can’t get their loan to go through. If I accept an offer with contingencies, what happens to my listing status?

Home sale contingency 145

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

HomeLight

NOVEMBER 1, 2021

But if the home appraises low (below the purchase price), the buyer will have difficulty securing a loan for the property without bringing extra cash to the sale or renegotiating the price. In a hot market, the seller’s agent may have backup offers and eager buyers waiting in the wings to snatch up the home.

Purchase and sale agreement 111

Purchase and sale agreement Backup offer Proof of funds Finance 111

Redfin

MARCH 5, 2025

Review your savings for your down payment , monthly income, and potential loan options to set a realistic price range. A mortgage pre-approval can give you a clearer picture of your financial standing and help you secure a deal faster.

Debt-to-income ratio 31

Debt-to-income ratio Backup offer Finance Pre-approval 31