HomeLight

SEPTEMBER 30, 2020

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender. Short sales 101.

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Short sale Closing costs Closing Sales 98

Realty Biz

MARCH 19, 2021

Homeowners who’re looking to secure a quick sale might want to take it upon themselves to do a pre-listing home inspection with the aim of speeding up the sales process. Sellers that opt for a pre-listing inspection will be informed of any issues with their home that might impact its value.

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Inspection Inspection contingency Sales Closing 138

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. What are the most common contingencies?

Home sale contingency 145

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

HomeLight

OCTOBER 30, 2020

But is the cash closing process always seamless? A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. With a mortgage, there are all kinds of things that can go wrong to delay closing — financing issues and appraisals coming in low are two of the most common.

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Closing Inspection contingency Title search Purchase and sale agreement 116

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?

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Closing Backup offer Sales Inspection 105

HomeLight

OCTOBER 13, 2021

You’ve made it through the most challenging part of the homebuying process , and closing day is finally approaching. As you count down the days until you’re sitting across that big table with a pen in your hand, ready to sign all of those closing documents for buyers, you might want to reel in your excitement. Closing Disclosure.

Closing 110

Closing Purchase and sale agreement Title Inspection contingency 110

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

The Close

MARCH 11, 2025

The process of locating and purchasing for sale by owner (FSBO) properties can be a complex endeavor for investors. This process involves multiple stages, starting with identifying an FSBO listing to securing appropriate financing and completing the closing procedures. What are the average monthly utilities and maintenance costs?

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Sales Due diligence Investor Finance 52

Redfin

MARCH 18, 2025

But what actually happens to that money once the deal closes? This Redfin article will break down exactly what happens to your earnest money at closing, and what to expect in different scenarios. What happens to earnest money at closing? It can cover part of your closing costs. Does it go toward your down payment?

Closing 33

Closing Purchase and sale agreement Earnest money deposit Seller concession 33

HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. There’s a house for sale that you want to buy. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. So the answer to “how long does it take to close on a house?” How it can delay closing. Easy, right? Yeah, not so much.

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Closing Purchase and sale agreement Title search Earnest money deposit 119

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

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% up from 17.4%

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Inspection contingency Inspection Purchase and sale agreement Pre-approval 59

HomeLight

AUGUST 25, 2020

The overarching question, as you make your way down your pre-sale checklist , is likely something along the lines of: “How long is this going to take?”. 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. Your sale could be different.

Closing 122

Closing Pre-approval Inspection Days on market 122

HomeLight

JANUARY 31, 2024

You can then make a strong offer on your next home with no home sale contingency. Learn More What does contingent mean? In real estate, when a house is listed as “ contingent ,” it means the sale of the property is conditional upon certain criteria being met.

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Purchase and sale agreement Inspection contingency Home sale contingency Inspection 115

HomeLight

JANUARY 10, 2024

In the world of real estate, a contingent offer on a home means that the purchase is conditional upon certain terms being met. These conditions, or contingencies, act as safeguards for both the buyer and seller. Essentially, they provide a way to back out of the sale if specific criteria aren’t fulfilled without facing penalties.

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Earnest money deposit Purchase and sale agreement Inspection contingency Inspection 116

Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

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Backup offer Home sale contingency Sales Earnest money deposit 111

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?

Closing 111

Closing Inspection Title Due diligence 111

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? If the buyer’s current home sells, the sale of the new home can proceed.

Home sale contingency 105

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

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. Should you consider it?

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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

Redfin

MARCH 7, 2025

Since the home inspection is primarily for the buyer’s benefit, ensuring the property is in good condition before finalizing the sale, the buyer usually covers the cost. While it’s not the norm, there are situations where the seller pays for the home inspection. Is a home inspection required when buying a home?

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Inspection Inspection contingency Earnest money deposit Purchase and sale agreement 37

HomeLight

MARCH 31, 2022

Cash offers or flexibility in choosing a closing date can also be attractive enticements to a seller. But one of the most influential bargaining tools is eliminating contingency clauses, especially the seller contingency clause, also known as the home sale contingency. What is a contingency clause?

Home sale contingency 104

Home sale contingency Sales Purchase and sale agreement Inspection contingency 104

HomeLight

APRIL 29, 2021

As a seller, your home sale price and proceeds are very different numbers. 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.

Closing costs 85

Closing costs Closing Seller concession Homeowner’s association 85

HomeLight

APRIL 12, 2022

Most home sellers want their home sale process to be quick and painless. If you have your heart set on a fast sale, you might seek out a direct buyer instead of going the more traditional route of working with an agent. An easy way to obtain a quick all-cash offer is through HomeLight’s Simple Sale platform. What’s more, ??our

Sales 116

Sales Inspection contingency Staging Agents 116

HomeLight

SEPTEMBER 10, 2022

Say you’re visiting yard sales on a Saturday morning and you come across the perfect wicker patio set, exactly what you’ve been looking for. The sellers may see every contingency as a possible roadblock that could delay or prevent you from completing the sale. An inspection contingency. Teresa Cowart. Transactions.

Purchase and sale agreement 111

Purchase and sale agreement Home sale contingency Sales Inspection contingency 111

HomeLight

OCTOBER 30, 2020

As for whether you can sell a house as is without inspection — the answer is yes, it’s possible and does happen. And for sellers of distressed homes or inherited property, it can be an appropriate strategy to facilitate a streamlined closing. However, a buyer could still include an inspection contingency in the contract.

Inspection 111

Inspection As-is Inspection contingency Investor 111

HomeLight

OCTOBER 1, 2020

Which contingencies you included in your contract with the seller. What are contract contingencies? They’re protective clauses you put in your contract with the seller that allow you an out if certain conditions of the sale aren’t met. There are four common buyer contingencies: financing, appraisal , inspection, and home sale.

Earnest money deposit 98

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

HomeLight

FEBRUARY 6, 2024

You can then make a strong offer on your next home with no home sale contingency. Learn More What does contingent mean on a house listing? These conditions are put in place to protect both the buyer and the seller, ensuring that specific criteria are satisfied before the transaction proceeds to closing.

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Inspection contingency Home sale contingency Inspection Finance 116

Redfin

MARCH 4, 2025

A mortgage pre-approval can also reassure the letter that your financing is likely to be approved during closing. In a less competitive market, or if a home has been for sale for 30 days or more, successful offers under list price are more common. In a competitive situation, you can ask to do a pre-inspection of the home.

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Pre-approval Inspection contingency Agents Inspection 31

HomeLight

FEBRUARY 26, 2021

These are all items that you may see listed for sale “as is” on sites like Facebook Marketplace or Craigslist. So how do “as is” sales in furniture and retail translate to “as is” sales in real estate? In fact, 95% of purchased homes undergo an inspection before closing. A couch with a red wine stain.

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As-is Sales Inspection Investor 111

HomeLight

DECEMBER 30, 2023

You may be building an online watchlist of homes you’re interested in seeing, but then you notice a label tagging your favorite property listing as “under contract” or “sale pending.” What buyer contingencies might put a listing back on the market? What buyer contingencies might put a listing back on the market?

Home sale contingency 119

Home sale contingency Purchase and sale agreement Inspection contingency Inspection 119

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. A home is marked as pending once an offer is accepted and both parties have agreed to the sale’s terms. More on contingencies in a minute.) What contingencies can impact a pending sale?

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Inspection contingency Backup offer Inspection Home sale contingency 94

HomeLight

SEPTEMBER 9, 2020

A contingency means that you’re willing to purchase the home contingent on certain details checking out. Though you won’t need a financing contingency, you should consider an inspection contingency and an appraisal contingency. Get an inspection. Choose a settlement agent. Conduct a final walkthrough.

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Inspection contingency Inspection Title Proof of funds 116

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. Contingent Statuses.

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

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. Common types of contingencies.

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

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. Home Sale Contingency.

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

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.

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MLS Backup offer Inspection contingency Purchase and sale agreement 105