HomeLight

MARCH 20, 2023

Most often, this type of scenario calls for a home sale contingency. With the help of real estate agent Jesse Allen , a single-family home expert in southern Indiana , we’ll help to explain the ins and outs of home sale contingencies, and offer additional alternatives for buyers who currently own a home.

Home sale contingency 105

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 105

HomeLight

MARCH 31, 2022

But one of the most influential bargaining tools is eliminating contingency clauses, especially the seller contingency clause, also known as the home sale contingency. What is a contingency clause? Let’s begin by looking at the “what” and “why” of contingency clauses. Source: (Masjid MABA / Unsplash).

Home sale contingency 104

Home sale contingency Sales Purchase and sale agreement Inspection contingency 104

HomeLight

APRIL 21, 2022

If specific criteria aren’t met, the deal can fall through; i.e., the sale is contingent upon various factors outlined in the offer. Therefore, the fewer contingencies tied to an offer, the more likely the deal will reach closing. Common contingencies include an inspection contingency and an appraisal contingency.

Inspection contingency 111

Inspection contingency Home sale contingency Pre-approval Agents 111

HomeLight

SEPTEMBER 11, 2020

Your offer will be stronger if you build in some wiggle room relating to factors that might seriously entice the seller to pick you: Can you offer rent-back? No sales contingency? Are you a first-time homebuyer, or have you already sold your home? Decide where you can be flexible. A bigger down payment?

Earnest money deposit 98

Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 98

HomeLight

JANUARY 4, 2022

A cash buyer will generally not use a financing, appraisal, or home sale contingency , and many cash buyers will inspect the property for informational purposes only. Your inspection could reveal a big repair that you did not anticipate, forcing a renegotiation. You’re overwhelmed with prepwork.

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Investor Finance Inspection Sales 98

HomeLight

JANUARY 28, 2022

Appraisal contingency : The buyer can back out if the home appraisal comes in lower than the offer amount (an appraisal lower than offer can also cause financing to fall through). Home sale contingency : The buyer’s existing home has to sell before they will purchase the home.

Purchase and sale agreement 111

Purchase and sale agreement Investor Agents Sales 111