HomeLight

JANUARY 26, 2024

For this reason, most contracts contain an inspection contingency clause. But what happens if the inspection contingency expires? If this contingency period lapses before you’ve finalized your decisions, will you lose your deposit? Get Started How does an inspection contingency work?

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Realty Biz

FEBRUARY 20, 2021

The home buying contingencies below should be completely understood before signing on the dotted line of a purchase and sale agreement. Home inspection: often called a due diligence contingency, will give the buyer rights to have the house inspected.

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HomeLight

OCTOBER 30, 2020

Contingencies are clauses in real estate contracts stipulating that certain conditions must be met before the deal can close. Real estate contract contingencies are commonly associated with getting a mortgage, as lenders tend to do their due diligence on a property before they’ll put up the money for it.

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HomeLight

JULY 26, 2022

If the seller is working with a listing agent, their agent will more than likely have already done their due diligence to make sure they are able to sell their home. When you make an offer, be sure to include any contingencies that you want fulfilled. Common contingencies include, but aren’t limited to: Inspection contingency.

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Realty Biz

NOVEMBER 11, 2020

If these contingencies aren’t met, the buyer can walk away from the deal. They will also get their earnest money deposit back , and the home will go back on the market. The home could be subject to a few different types of contingency. Home Inspection Contingency.

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HomeLight

AUGUST 9, 2022

Earnest money is a portion of the down payment included as part of the offer made on a home to the seller. If the contract is successful and it’s time to close, the buyer will roll the earnest money deposit into the total down payment amount. The rest of the down payment will be due at the closing table.

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HomeLight

JULY 31, 2021

Beyond doing your due diligence online, it’s also a good idea to pick up the phone and put a voice to the business. Earnest money deposit. Inspection period. Pay attention to the number of days allotted for the cash buyer to complete their inspection. Step 6: Pass the inspection.

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