HomeLight

JANUARY 13, 2022

Title contingencies. A title is the legal right to own a property. A title search reveals who has owned the home in the past and in the present, and whether there are any recorded liens, claims, or judgments made against the home. Title contingencies cannot be waived. Source: (Melody Ayres-Griffiths / Unsplash).

Backup offer 97

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

HomeLight

JULY 31, 2021

Although it’s not as sure of a bet, you could also attract a regular residential buyer who has enough liquid assets to buy a house outright. Once you’ve accepted an offer and entered into a purchase contract, the buyer will turn the contract over to the title or escrow company.

Earnest money deposit 98

Earnest money deposit Inspection Inspection contingency Title 98

HomeLight

JUNE 30, 2021

Title contingency. During a home purchase, a title search is done to ensure that the seller is the property owner with full rights to sell. A title contingency allows the buyer to terminate the contract if the title search reveals any issues, such as a lien against the property. Zoning contingency.

Purchase and sale agreement 98

Purchase and sale agreement Inspection contingency Home sale contingency Inspection 98

HomeLight

OCTOBER 29, 2020

Review the detailed settlement document provided by the closing attorney and you’ll see a line item for a property title search. If a title search reveals any claims to or liens against the property, the transaction will be delayed until it can be resolved. Zoning and land use contingencies.

Purchase and sale agreement 81

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 81