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

HomeLight

Not all purchases are the same, and waiving an appraisal contingency without doing your due diligence first may cost you more money down the line. Financing contingency: The buyer must qualify for a mortgage loan and receive financing for the deal to continue. However, this approach can be risky.

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

HomeLight

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. In competitive markets, this contingency is very unattractive to sellers.

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What Does Contingent Mean in Real Estate Sales

Realty Biz

Understanding how a home inspection works is essential for both buyers and sellers, given the importance of this real estate transaction phase. Home Sale Contingency. If the buyer still needs to sell their home before they can close on the new property, a home sale contingency can be put in place.

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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. The title isn’t clear.

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How to Avoid a Delayed Closing: 7 Common Roadblocks to Be Aware of

Redfin

Clouds on the title. Before you can close the deal, you’ll need to make sure that the title is clear. A title company or real estate attorney will conduct a title search, which examines all public records to determine the property’s ownership history and identify any clouds on the title.

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25 Nightmare Scenarios That Can Disrupt Closing (And How to Avoid Them)

HomeLight

That likely went right to your lender, so ask to get a copy from either them or directly from the title company. There are certain properties I would immediately order a title search before I do anything else: A foreclosure , a short sale , a bankruptcy, an estate sale,” Houck says.

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What You Need to Know If You’re Buying a Home from the Owner

HomeLight

Either way, you don’t want to get yourself stuck in a situation where you waste your time attempting to purchase a home, only to be disappointed. 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.