Remove Due diligence Remove Home sale contingency Remove Inspection
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Considering Waiving the Appraisal Contingency? Here’s What to Know

HomeLight

As of December 2024, 18% of buyers waived the appraisal contingency , with other buyers waiving, for example, inspection contingencies to likewise make their offers more enticing to sellers. The appraisal contingency is there to protect the buyer in case of any issues surrounding your appraisal.

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A Seller’s Guide To When A Buyer Does and Doesn’t Get Their Earnest Money Back

HomeLight

Suppose the inspection uncovers issues that are unacceptable to the buyer. There are other possible contingencies that a seller may encounter in reviewing offers, such as a Home Sale Contingency , which allows the buyer to back out of the agreement in the event that their current property doesn’t sell in time.

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The Most Common Home Buying Real Estate Contingencies

Realty Biz

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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What Does Contingent Mean in Real Estate Sales

Realty Biz

Let’s have a look at the most common types of contingency you are likely to see. Home Inspection Contingency. The purchase of the property can be contingent on the home inspector’s report. If the home requires some repairs, the price can be renegotiated, or the seller can fix the issues.

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What is a 72-Hour Kick Out Clause And How Does It Work In a Home Sale?

HomeLight

The second buyer might offer more money or place fewer conditions on the deal, making the seller believe the home sale would be more likely to make it to the closing table. Examples of contingencies that may cause the seller to add a kick-out clause: A home sale contingency. An inspection contingency.

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Think The Cash Closing Process Is Always Fast? 11 Delays Buyers Should Watch Out For

HomeLight

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. And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. Because it’s fast.

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How Can a Buyer Get Their Earnest Money Back?

Realty Biz

Home Inspection Results Buyers unsatisfied with the home inspection results can terminate the real estate transaction and get their earnest money refunded. A home inspection is an essential step in the home-buying process as it helps identify potential issues with the property.