HomeLight
JUNE 9, 2023
Most real estate contracts — or roughly 80% — contain contingencies , according to data from the National Association of Realtors (NAR). As of 2023, 79% of contracts included an inspection contingency while 82% contained an appraisal contingency. What are the most common contingencies?
HomeLight
SEPTEMBER 22, 2020
260,000 offer with financing and inspection contingency, 60-day close. 248,000 offer with all contingencies waived, 30-day close. 250,000 offer with financing and inspection contingency, largest earnest money deposit , 60-day close. Then, it’s back to square one and racking up days on market.
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Realty Biz
JULY 6, 2022
In a hot seller’s market homes sell in an instant. It is not unusual for a home to be on the market less than a week. When a market transitions from a seller’s to buyer’s market, the days on market will go up significantly. One way of doing that will be eliminating common contingencies.
Windemere Selling
MAY 12, 2021
What is a Seller’s Market? A seller’s market occurs when demand exceeds supply. Median sales prices increase, days on market decrease, and homes commonly receive multiple offers, often over their original asking price. When inventory is limited, competition amongst buyers is fierce.
HomeLight
NOVEMBER 9, 2021
The recent housing market has been hot and competitive due to an extreme lack of inventory. For a seller in a hurry, the shortage of homes means you can anticipate fewer days on market (DOM). What do days on market mean? Average Days in 2021. Average Days in 2021. Days on Market.
HomeLight
APRIL 21, 2022
If specific criteria aren’t met, the deal can fall through; i.e., the sale is contingent upon various factors outlined in the offer. Therefore, the fewer contingencies tied to an offer, the more likely the deal will reach closing. Common contingencies include an inspection contingency and an appraisal contingency.
Realty Biz
MARCH 13, 2024
Remember that appraisals align with market value, not simply what you offer, which could jeopardize financing. If waiving inspection contingencies, have the home pre-inspected so you enter informed on its condition. Consider keeping your finance contingency for your protection.
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