HomeLight

DECEMBER 31, 2020

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process. What does “sale pending” mean?

Closing 105

Closing Backup offer Sales Inspection 105

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. A backup offer is not uncommon in real estate sales.

Purchase and sale agreement 145

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

Realty Biz

SEPTEMBER 14, 2021

In some places, active under contract indicates that a contract has been signed but is contingent on certain conditions being met before the sale is finalized. In other locations, the sale may be referred to as being contingent in the multiple listing service (MLS). The seller has agreed to accept a contingent offer from the purchaser.

Backup offer 126

Backup offer Purchase and sale agreement Inspection Sales 126

HomeLight

JANUARY 13, 2022

Many offers contain contingencies. In May 2020, 76% of closed sales contained purchase contingencies, a survey from the National Association of Realtors® (NAR) found. Common contingencies include issues with appraisals, home inspections, or the buyer’s home sale. Home sale contingencies. Common types of 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. Home sale contingency This contingency can arise when a buyer must sell their current home before buying yours. Why have a backup offer on hand?

MLS 105

MLS Backup offer Inspection contingency Purchase and sale agreement 105

HomeLight

MARCH 20, 2023

That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. Most often, this type of scenario calls for a home sale contingency. Find a Buyer's Agent What is a home sale contingency? Thus, the purchase agreement is “contingent” on the sale of the buyer’s existing home.

Home sale contingency 105

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 105

Realtor.com

NOVEMBER 28, 2022

If your offer’s wrapped up in the buyers’ ability to successfully offload their own home, there’s also a chance the sale could take months—maybe even years. Ways to protect yourself from a stalled home sale. To cover all of your bases, consider including a “ kick-out clause ” in your contract.

Backup offer 119

Backup offer Inspection Closing Loans 119

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. Here’s all you should know about contingent sales as a potential home buyer. An active listing means the home in question is currently on sale, and sellers are actively open to offers. Contingent meaning. It depends.

Debt-to-income ratio 144

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

Realty Biz

JULY 25, 2023

When you're looking to buy a home, you'll likely come across the terms "under contract" and "pending sale." This means that it’s crucial to understand the difference between a pending sale and an under contract and what they mean for a buyer or a seller. This means that the buyer and seller have agreed on the terms of the sale.

Sales 87

Sales Inspection Inspection contingency Backup offer 87

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

JULY 23, 2021

The MLS is a real estate database of all the homes in your area that are currently for sale, pending sale, or have recently been sold, and so much more. Will a house with an offer on it be removed from the MLS? When [my team] lists properties, we actually encourage all of our clients to accept a backup offer,” says Cheperdak.

MLS 111

MLS Backup offer Agents Purchase and sale agreement 111

HomeLight

JANUARY 5, 2022

Why might a seller want to back out of a home sale? In his nearly two decades of experience representing buyers and sellers in litigation, these are the most likely reasons sellers attempt to renege their plans: A higher offer comes in. Typically, the seller’s agent stops accepting offers once the home is pending sale.

Purchase and sale agreement 111

Purchase and sale agreement Backup offer Inspection Agents 111

HomeLight

NOVEMBER 1, 2021

If you’re selling your home in a hot market rampant with bidding wars that drive up the purchase offers on home sales, you may realize that your home is unlikely to appraise for the inflated purchase offer or even for your asking price. Short sales or foreclosures in your area have driven home prices artificially low.

Purchase and sale agreement 111

Purchase and sale agreement Backup offer Proof of funds Finance 111

Realty Biz

NOVEMBER 15, 2021

They were finally successful after a search lasting more than five months, when they made an offer on a home within an hour of seeing it last February. They were told immediately afterwards that the home was already under contract, though their backup offer of $780,000 was eventually accepted after the first transaction fell through.

Backup offer 103

Backup offer Inspection Land Technology 103

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).

Backup offer 81

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

First Team Real Estate

MAY 27, 2021

Of the four luxury real estate sales I closed in April, three of the transactions were backup offers, and another I secured for my client through targeted outreach with an “I have a buyer letter.” The proceeds of that sale allowed me to pay off my entire law school loan right after I graduated!

Agents 98

Agents Backup offer MLS Closing 98

HomeLight

NOVEMBER 8, 2024

In real estate, “pending” means a seller has accepted an offer, and the property is under contract , but the sale hasn’t yet closed. If everything goes smoothly, the sale could close faster. Can a buyer make an offer on a ‘pending’ house? If they reject the buyer’s offer, the deal won’t proceed.

Inspection contingency 94

Inspection contingency Backup offer Inspection Home sale contingency 94

First Team Real Estate

MAY 14, 2021

If you’re starting your home search or sale, Zillow Seal Beach is a fine jumping-off point, but when it comes to analyzing the local real estate market, you need a local professional to help you come out on top. Or helping you complete repairs so you can sell for more, instead of cutting your sales price. . The Truth About Commission.

Backup offer 98

Backup offer Branding Closing costs Inspection 98

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. Learn More Should I accept an offer with a home sale contingency?

Home sale contingency 145

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

RIS Media

APRIL 18, 2022

There’s no guarantee that the property you like will be available when you’re ready to make an offer. Look at recent sale prices, as well as neighborhood trends. You may see some of these things or all of them before making an offer. It will help tailor your offer when the time comes.

Pre-approval 119

Pre-approval Backup offer Due diligence Rent back 119

Windemere Selling

MAY 16, 2022

If a buyer is hesitant about purchasing a home, the best time to back out of the deal is before their offer is accepted. Once the purchase agreement is signed by both parties, it becomes legally binding, and the sale of the property can proceed. They stipulate that if the first offer falls through, the second buyer’s offer is accepted.

Backup offer 52

Backup offer Purchase and sale agreement Inspection Agents 52

The Close

APRIL 26, 2022

Our persistence and strategy led to more than $1 billion in sales in 2021 and we’re on track to hit our goal of closing a thousand buyers in 2022. Steve, Inside Sales Associate, The Reynolds Team Virginia. Write Backup Offers With a Backup Clause Written by an Attorney. Prospect OLD Expireds, Not New Expireds!

Backup offer 98

Backup offer Purchase and sale agreement MLS Agents 98

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. Home Sale Contingencies.

Purchase and sale agreement 98

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

Marco Santarelli

APRIL 15, 2023

Some of these terms include: Active: When a property is marked as “active,” it means that the listing is currently available for sale and there is no accepted offer on it yet. If you are a homebuyer, this is a great opportunity to view the property and make an offer.

Backup offer 52

Backup offer Purchase and sale agreement Inspection Finance 52

HomeLight

DECEMBER 31, 2020

A qualified real estate agent will always be one of your best allies when it comes to arriving at a suitable sale price, but it doesn’t hurt to get an understanding of some of the approaches used to predict that magic number. There have been multiple sales of comparable properties in the area. How AVMs work. Do your own comps analysis.

Backup offer 119

Backup offer Sales Agents Closing 119

HomeLight

SEPTEMBER 16, 2022

This enables the buyer to terminate the sale at any point during the allotted time. The option period and fee are finalized in the purchase contract terms of the sale. The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. When does an option period begin?

Option period 110

Option period Earnest money deposit Due diligence Inspection 110

Norada Real Estate

APRIL 20, 2023

When a seller accepts an offer from a buyer, they sign a contract that outlines the terms of the sale. The contract is a legally binding document that includes the timeline for the sale, including the closing date. In some cases, a seller may be willing to accept a backup offer.

Backup offer 52

Backup offer Due diligence Finance Inspection 52

First Team Real Estate

NOVEMBER 9, 2020

Contact listing agents whose listings are currently in escrow that fit your needs and check the sales status. If the buyers get cold feet or financing falls through, you want to be ready with your own backup offer in place so that you can be next in line to secure your dream house.

Agents 93

Agents Purchase and sale agreement Backup offer MLS 93

Redfin

MARCH 5, 2025

Look at for-sale-by-owner and inherited homes Some homeowners choose to sell their properties without involving real estate agents, often resulting in lower prices. These for-sale-by-owner listings can be found on various online platforms and local classifieds.

Debt-to-income ratio 31

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

First Team Real Estate

DECEMBER 7, 2020

Here’s how to review details in a tidy, orderly manner so you can make sense of your home sale. In numerous cities, home buyer demand is up while inventory stays low– leaving house hunters fighting it out in multiple-offers scenarios and sellers attempting to browse everything. Price or Cost.

Purchase and sale agreement 98

Purchase and sale agreement Pre-approval Title Backup offer 98

Easy Agent Pro

JUNE 8, 2021

For that same reason, caution against driving around to look for “for-sale” signs. Council buyers to ensure they’re working closely with their lenders so that they’re ready to move if their offer is accepted. The backup offer. Feel free to steal them: This is not the time to surf the web looking at houses.

Agents 116

Agents Purchase and sale agreement Backup offer Title 116

HomeLight

JUNE 28, 2022

In this article, we explain the roles agents play in your home sale or purchase, their required level of experience, and the services they provide in your home sale or purchase. According to the National Association of Realtors : 68% percent of Realtors® are licensed as sales agents. No false or misleading advertising.

Purchase and sale agreement 110

Purchase and sale agreement Agents Brokerage Backup offer 110

First Team Real Estate

DECEMBER 14, 2020

Here are the 6 ways we, as a local family-owned brokerage , help our clients save thousands of dollars on their home sale while providing our signature quality service that has secured us a 98% satisfaction rating among Southern California homeowners. to analyze changes that will affect your home sale. Pricing Your Home. Our Strategy.

Brokerage 105

Brokerage Backup offer Staging MLS 105

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.

Earnest money deposit 111

Earnest money deposit Purchase and sale agreement Closing costs Closing 111

Redfin

MARCH 5, 2025

Look at for-sale-by-owner and inherited homes Some homeowners choose to sell their properties without involving real estate agents, often resulting in lower prices. These for-sale-by-owner listings can be found on various online platforms and local classifieds.

Debt-to-income ratio 31

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

HomeLight

DECEMBER 30, 2021

The only thing that stands between you and a sale is the appraisal. To conduct an accurate evaluation, the appraiser will evaluate local comparable sales and conduct an onsite visit of your property to evaluate an array of external and internal factors. You’re ready to move on. And, what’s it going to take for your home to pass? “I

Loans 119

Loans Agents Inspection Closing 119

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.

Purchase and sale agreement 52

Purchase and sale agreement Backup offer Home sale contingency Inspection 52