Redfin

JULY 28, 2020

markets waived the inspection contingency, compared with just 13.2% Winning offers waived the appraisal contingency at a similar rate—20.6%—up The inspection contingency allows the buyer to cancel a purchase or request repairs if they find an issue during the inspection period. In June, 19.9%

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Inspection contingency Inspection Purchase and sale agreement Pre-approval 59

HomeLight

MARCH 31, 2021

A seller credit is a type of seller concession where the seller offers the buyer money at closing to sweeten the deal. Buyers appreciate seller credits since these essentially discount their closing costs which are typically between 2% and 5% of the home’s purchase price. Seller credits are money the seller gives the buyer at closing.

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Closing Seller concession Sales Closing costs 105

HomeLight

AUGUST 25, 2020

home was on the market for an average of 24 days , with Ellie May estimating an average of 46 days to close on a purchase loan. That’s 70 days — or a little over two months — from listing to closing. Every house, every market, and every individual sale will vary in terms of days on market and closing timelines.

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Closing Pre-approval Inspection Days on market 122

HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. While seamless closings are ideal for everyone involved, they almost never happen unless the buyer is paying cash on the home, and even then there can be a roadblock or two.

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Closing Purchase and sale agreement Title search Earnest money deposit 119

HomeLight

SEPTEMBER 30, 2020

Unexpected setbacks and misfortunes happen, whether that stems from a dramatic housing market downturn, getting laid off, or any other wrenches that life (or a worldwide pandemic) throws into your plans. If you’re interested in a short sale opportunity, get a better idea of what you’re in for and what closing costs you can get covered.

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Short sale Closing costs Closing Sales 98

HomeLight

MARCH 2, 2023

People who live here love the proximity to some of the west coast’s best beaches, as well as being close to destinations like Disneyland, Joshua Tree National Park, and the deserts of Palm Springs. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well.

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Closing Earnest money deposit Sales Inspection 118

HomeLight

OCTOBER 29, 2021

You still have to make it through the house closing process, where inspections , credit problems, or paperwork issues can trip you up. The closing process fills several weeks as you navigate through multiple steps to make it to the closing table. How long does the house closing process take?

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Closing Inspection Title Due diligence 111

HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. To top it off, buyers sometimes ask sellers to pitch in for their closing costs, too — another 2% to 3% of the sales price. Property inspections. Typical seller closing costs.

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Closing costs Closing Seller concession Purchase and sale agreement 97

HomeLight

JULY 29, 2022

Closing on a house is a thrilling time for buyers : Once you’ve found the one and have an accepted offer, you’re ready to grab the keys and make it your own. But closing time can also be plenty to rack your nerves. What can go wrong on the buyer’s side at closing. Problem: There’s an issue with the Closing Disclosure.

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Closing Purchase and sale agreement Title Home sale contingency 105

HomeLight

MARCH 6, 2023

The Bay Area is also close to beaches, national parks, and the wineries of Napa Valley. Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Loans are between 3%-3.5%

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Earnest money deposit Closing Sales Title 110

HomeLight

DECEMBER 31, 2020

Not only will you need to be packing, cleaning, and getting the house ready for your buyer, there’s also a lot of waiting and hoping that all of the moving pieces fall into place and your home sale closes on time, if you make it to closing at all. Contingencies that fail to be met or lifted. The buyer’s financing with a lender.

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Closing Backup offer Sales Inspection 105

HomeLight

APRIL 29, 2021

You’ll need to subtract your closing costs to determine how much money you’ll walk away with after the sale. So, what are closing costs in Delaware? In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs. Loan payoff includes the remaining principal and interest owed up until closing.

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Closing costs Closing Seller concession Homeowner’s association 85

HomeLight

SEPTEMBER 9, 2020

But if your cash is socked away in various places, like stocks or money market accounts, you’ll want to cash out those accounts and gather your money together. Offering cash for a home purchase will make you more competitive in a seller’s market, says Ludecker. “I Source: (Kelly Sikkema / Unsplash). Make an offer.

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Inspection contingency Inspection Proof of funds Title 116

Realty Biz

JULY 7, 2021

There may not be enough houses on the market right now, but more are coming on the market every day. It’s the preapproval letter that tells the seller that you’re serious about buying their home and highly likely to close the deal. When the market demands it, your highest offer should be at the high end of the market analysis.

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Inspection contingency Marketing Inspection Rent back 87

Realty Biz

DECEMBER 31, 2020

Question from Bethanny in WA: Hello Brian, the 2020 housing market has been afflicted with low inventory, rising home prices, endless bidding wars, and of course the coronavirus. The biggest variable will probably be employment levels that will determine the number of buyers chasing the limited number of homes on the market.

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Inspection contingency Inspection Closing Loans 110

Realty Biz

OCTOBER 12, 2021

No wonder, a big number of prospective buyers have found themselves locked out of the market – especially first-time buyers – while others have been forced to stretch their budget beyond what they can comfortably afford. In August, they comprised just 29% of sales, far below the 40% of the market this segment traditionally makes up.

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Inspection contingency Closing costs Inspection Closing 106

Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? Here are five seller concessions that I’m using that can help navigate today’s market: 1. Prepaid costs are paid at closing and put in an escrow account to help cover mortgage expenses. You are certainly not alone.

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Seller concession Closing costs Purchase and sale agreement Inspection contingency 78

Realty Biz

MARCH 13, 2024

This article explores the key factors home buyers need to know about the Maryland housing market this year. Getting Pre-Approved For A Mortgage In a seller’s market like Maryland, getting pre-approved for a mortgage loan should be one of the first steps for hopeful buyers. For minor fixes, request a credit at closing.

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Pre-approval Marketing Inspection Closing costs 91

The Close

SEPTEMBER 10, 2020

A strong seller’s market is a lot like dealing with the craziness of this pandemic. Hating to lose more than I wanted to win, I came up with these seven creative strategies to make any offer stand out in a seller’s market. Sellers want to work with buyers they can trust and experience a painless closing. CALL the Listing Agent.

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Home sale contingency Pre-approval Earnest money deposit Marketing 114

Realtor.com

JANUARY 4, 2023

Inventory levels are still low, but there are more homes coming on the market; the bidding wars and mind-boggling offers over the asking price have died down; and buyers can once again insist on inspections, contingencies, and repairs before the deal closes. Watch: 5 Costs Buyers Should Prepare for During Closing.

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Inspection contingency Pre-approval Mortgages Inspection 133

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. This can mean that the buyer’s financing is approved, the inspection contingency is met, or any appraisal concerns are resolved. More on contingencies in a minute.)

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Inspection contingency Backup offer Inspection Home sale contingency 94

HomeLight

JULY 6, 2023

When your home first hits the market, your listing agent will note that it’s “Active,” as in ready and available for showings — but there’s a lot of ground to cover before your agent lists the status as “Closed,” when you have a done deal and you’re ready to hand over the keys. Learn More Contingent or pending, you’re under contract!

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MLS Backup offer Inspection contingency Purchase and sale agreement 105

Realty Biz

APRIL 20, 2022

Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause. Closing Date.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 104

HomeLight

JULY 31, 2022

It’s important to distinguish that appraisals are not intended to be a home inspection. But when you place your home on the market, it’s hard to predict if your top offer will come from a cash buyer or a buyer pre-qualified for a home loan. Addressing minimum requirements as part of your marketing plan.

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Closing FHA loan Purchase and sale agreement Inspection 98

Redfin

FEBRUARY 22, 2021

Even as you dream about color schemes, furniture placement, and what the ideal layout of your new home will be like, you’re probably also keeping a close eye on interest rates and what your future mortgage payment will be. What are closing costs? . Here is a sample closing disclosure to familiarize yourself with the form.

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Closing costs Closing Title Title search 78

HomeLight

JANUARY 13, 2022

An active contingent listing means that the seller has accepted an offer from a buyer, but certain conditions haven’t been met yet. These conditions are known as contingencies, which is where the term “active contingent” comes from. Many offers contain contingencies. Inspection contingencies.

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

HomeLight

DECEMBER 30, 2023

What buyer contingencies might put a listing back on the market? What home contingency missteps should you avoid when making an offer? An appraisal contingency allows the buyer to either renegotiate their offer or freely walk away from the agreement if the appraisal comes in under the contracted offer price.

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Home sale contingency Purchase and sale agreement Inspection contingency Inspection 119

Norada Real Estate

APRIL 15, 2023

The length of time a house can be under contract can vary, but understanding the contingencies and obligations during this period can help both parties prepare for a successful closing. Purpose of Under Contract The purpose of the under-contract period is to allow both parties to fulfill any contingencies and prepare for closing.

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Earnest money deposit Inspection contingency Title search Inspection 98

RIS Media

MAY 19, 2021

However, this is just the start with many things to do before the status changes to “Closed.” ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Not all sales will have contingencies with them, but most will.

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

Windemere Selling

JANUARY 19, 2022

The closing process in a real estate transaction finalizes the terms of an agreement between the buyer and seller, leading to the transfer of the property’s title. Before a buyer can hold the keys to their new home, and before a seller can celebrate the sale of their property, closing costs must be paid.

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Closing costs Closing Purchase and sale agreement Seller concession 52

Point2Homes

DECEMBER 8, 2020

But, what does contingent mean and how does it affect your purchase? 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. How is Contingent Different from Pending? Probate contingencies are far less common.

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

Realty Biz

NOVEMBER 10, 2021

When a home is listed as “pending,” the contingencies have been met, and it is moving towards the closing date. When the house is marked as “sold,” it is no longer on the market. A “contingent” listing also means that the seller has accepted an offer, but some things still need to be completed on the way to closing.

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Purchase and sale agreement Inspection Inspection contingency Finance 129

HomeLight

JULY 31, 2020

For most people, this means a checking, savings, or money market account. This is important: if your real estate agent puts in an all-cash offer on your behalf, they will not include a financing contingency. The inspection contingency : As a cash buyer, an inspection contingency is optional.

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Purchase and sale agreement Inspection contingency Proof of funds Finance 98

HomeLight

SEPTEMBER 22, 2020

You’ve got an incredible opportunity to make the most of this deal, if only you can avoid tripping up before closing. The “best” component refers to all the other terms included in a contract that can be tweaked to sweeten the deal — such as waived contingencies , putting down more cash upfront , or offering a more flexible closing date.

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Earnest money deposit Inspection contingency Closing Inspection 98

HomeLight

JANUARY 3, 2024

It means the buyer and seller have agreed to the terms of the contract, such as the price, the closing date, the personal property, the earnest money, tax preparation, and contingencies.” Alternatively, if the conditions aren’t met, the house could go back on the market. It sounds pretty straightforward, right?

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 115

HomeLight

NOVEMBER 29, 2021

You’ve found the house of your dreams, your offer has been accepted, and you’re ready and eager to reach the closing table. But first, you have to sell your old home, potentially secure financing, and secure a home appraisal (and likely an inspection) on your new house. How long is a contingency period? Inspection contingency.

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Purchase and sale agreement Home sale contingency Inspection contingency Earnest money deposit 111

Realty Biz

SEPTEMBER 2, 2021

When you take closing costs, repairs, and other concessions to the buyer into account, a seller is actually looking at around 10 percent. Although everyone wants the best price for their home, the amount you want and what the market will pay may be two very different figures. Underestimating Costs.

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Inspection contingency Closing costs Inspection Agents 98