Remove Earnest money deposit Remove Inspection Remove Land
article thumbnail

Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In

Realtor.com

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency. Your home inspection reports. Clear the title.

Closing 139
article thumbnail

Your Ultimate Guide to Buying a Home in Connecticut in 14 Steps

HomeLight

While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. Earnest money deposit amount. Contingencies: Financing, home inspection, and appraisal. Closing date.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Read a Settlement Statement When Selling a Home

HomeLight

However, the settlement form developed by the trade group ALTA (American Land Title Association) is widely used across the nation for real estate transactions. What is an excess deposit, and who will receive the funds listed on that line? Let’s say the buyer put down a $7,000 earnest money deposit on a $100,000 home.

article thumbnail

How to Make Your Offer More Competitive!

CT Homes

Landing your dream home is now about timing, contract structure and submitting the strongest offer possible as soon as you can. If you are using lender financing, the more money down the more likely your loan will be accepted. In addition to down payment on your loan you should consider increasing your Earnest Money Deposit (EMD).

article thumbnail

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

HomeLight

Problems come up during inspection. However, an inspection contingency will often be used by any buyer, whether they’re using financing or paying cash. Home inspections are typically optional, though they’re very common — and encouraged, with 95% of buyers getting one. But understand that inspections can delay the deal.

Closing 116
article thumbnail

What Does Contingent Mean in Real Estate Sales

Realty Biz

They will also get their earnest money deposit back , and the home will go back on the market. Home Inspection Contingency. Home inspections are one of the biggest hurdles in home sales. A land surveyor will be sent to the property to ensure there are no violations.

article thumbnail

17 Home Closing Delays and How You Can Avoid Them

HomeLight

Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). If this problem can’t be resolved, an appraisal contingency in the contract allows the buyer to cancel the agreement and retain their earnest money deposit. Dodge move.

Closing 119