Remove Earnest money deposit Remove Home sale contingency Remove Lending
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3 Top Reasons Why Sellers Sue Buyers for Backing Out of Home Sales

HomeLight

You now have skin in the game in the form of your earnest money deposit, plus you have a legal duty to buy the home (barring certain circumstances). According to the latest data from the Realtors Confidence Index (RCI), 76% of purchase contracts contain contingencies , and around 7% of contracts are terminated.

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Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

Buyers need to keep track of their mortgage contingency to make sure it doesn’t lapse. Doing so could mean the forfeiture of their earnest money deposit. Appraisal Contingencies. Lenders aren’t going to provide money for a property that the buyer’s offer has overvalued. Pending Meaning.

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

HomeLight

Common contingencies include, but aren’t limited to: Inspection contingency. Appraisal contingency. Financing contingency. Home sale contingency. Final walkthrough contingency. Title contingency. Send your earnest money deposit. Sign the purchase agreement.

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How to Buy a House without a Real Estate Agent, Just Like a Professional

HomeLight

The template will include your offer price, down payment amount, earnest money deposit, contingencies, and desired closing date. While a real estate agent won’t tell you exactly what to offer as a purchase price, they would give you some guidance as to the state of the market and what the home might be worth.

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8 Essential Steps to Navigating Escrow in Home Buying

Realty Biz

Depending on how far along in the escrow process you are, this can be done in a variety of ways: Providing a deposit - If you have not yet made an offer on a home, consider providing an earnest money deposit as your first step.

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How to Sell a House by Owner in Florida (2022 Updates)

HomeLight

Earnest money. The earnest money deposit is typically a small amount of money that goes into an escrow account to show that the buyer is serious. HomeLight Trade-In allows you to buy a new home before selling your old one. The amount is negotiable, and it always goes toward the purchase price.

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How to Sell a House by Owner in Arizona (2022 Updates)

HomeLight

Earnest money. The earnest money deposit is typically a small amount of money that goes into an escrow account to show that the buyer is serious. HomeLight Trade-In allows you to buy a new home before selling your old one. The amount is negotiable, and it always goes toward the purchase price.