Remove Earnest money deposit Remove Home sale contingency Remove Mortgages
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A kick-Out Clause Beats a Home Sale Contingency For Sellers

Realty Biz

Kick-Out Clause vs. Home Sale Contingency. When the real estate market favors sellers home sale contingencies almost become extinct. In hot markets there would never be a need for a seller to even considered a home sale clause. However, there is one alternative that will become more popular.

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What Is a Home Sale Contingency?

HomeLight

After all, few people can afford to hold two mortgages. At the same time, it usually does not make sense for buyers to sell their home without having a new one lined up to move into. So what options does that leave for the homebuyer who must also be a home seller ? Find a Buyer's Agent What is a home sale contingency?

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Should I Waive the Mortgage Contingency in My Offer?

HomeLight

The decision to waive the mortgage contingency, while potentially making your offer more appealing, carries a sloshing bucket of risks and considerations. But it can also tilt a sale in your favor. You can then make a strong offer on your next home with no home sale contingency.

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

HomeLight

In most cases, real estate purchase contracts are exclusive agreements , meaning a seller can’t continue marketing the home and accepting additional offers once the home is under contract. Earnest money is meant to compensate the seller for the time wasted in the event of a failed contract.

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What Does It Mean When a House Is in Escrow?

HomeLight

Unlock Your Equity and Buy Before You Sell Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency. Get Started What does ‘in escrow’ mean in real estate?

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Everything You Need to Know About Making an Offer: 15 Tips for Homebuyers

HomeLight

Then, make sure you are only searching for, and writing offers for, homes you can truly afford. Get preapproved for a mortgage. The importance of getting preapproved for a mortgage can’t be overstated if you want your offer to be taken seriously. Determine how much earnest money to offer.

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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). They’re protective clauses you put in your contract with the seller that allow you an out if certain conditions of the sale aren’t met. Financing contingency.