RIS Media

APRIL 8, 2022

While financing may be pre-approved, the process is complex. The title search reveals issues. Whenever you’re purchasing real estate, a title search is one of the standard boxes that must be checked. The title needs to be clean. The clause is referred to as a home sale contingency. .

Debt-to-income ratio 144

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

Realty Biz

NOVEMBER 11, 2020

Even if the buyer has pre-approval for a mortgage, things can still go wrong when they apply for the loan. Perhaps, they have taken out a fresh loan, or their situation has changed in some other way since pre-approval. One of the standard contingencies in nearly all real estate contracts is delivering a clear title.

Backup offer 111

Backup offer Sales Home sale contingency Earnest money deposit 111

Windemere Buying

JUNE 22, 2022

It means the seller has accepted an offer and there’s a good chance the deal will go through, but because the sale is not yet final, the property is technically not off the table. Other interested buyers will make backup offers in case the first offer falls through.

Purchase and sale agreement 52

Purchase and sale agreement Inspection contingency Backup offer Seller concession 52