Point2Homes

DECEMBER 8, 2020

A home listed as contingent means the seller has accepted an offer. However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. Short Sale.

Purchase and sale agreement 145

Purchase and sale agreement Backup offer Home sale contingency Short sale 145

HomeLight

NOVEMBER 8, 2024

Why might a home be listed as pending? A home is marked as pending once an offer is accepted and both parties have agreed to the sale’s terms. This can mean that the buyer’s financing is approved, the inspection contingency is met, or any appraisal concerns are resolved.

Inspection contingency 94

Inspection contingency Backup offer Inspection Home sale contingency 94

HomeLight

JANUARY 13, 2022

If a contingency isn’t met, then buyers can back out of a deal without any repercussions and they can get their earnest money back. Common contingencies include issues with appraisals, home inspections, or the buyer’s home sale. How is an active contingent listing different from a pending listing?

Backup offer 97

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 97

HomeLight

JULY 6, 2023

So what are the contract stipulations that put a listing into that “Contingent” stage, and how common is it for a property to hang in closing limbo? Here are 5 common contingencies in real estate contracts: Inspection contingency A buyer and their lender understandably want a home inspection to make sure they’re not investing in a lemon.

MLS 105

MLS Backup offer Inspection contingency Purchase and sale agreement 105

HomeLight

NOVEMBER 10, 2021

Some iBuyers will perform an inspection and may reduce their offer price based on what they find out about the home’s condition. iBuyers don’t plan to live in your home; after they make a purchase, they resell the home — in some cases after making light repairs. Real estate brokerage Redfin, which lists homes for a 1.5%

Home sale contingency 118

Home sale contingency Sales Closing Short sale 118

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

MARCH 21, 2022

Generally trade-in companies will offer to buy your current home, freeing up your funds to buy a new home and removing the need for a home sale contingency. Example home trade-in companies: HomeLight Trade-In. Some home-buying companies focus on purchasing houses in specific regions, states, and cities.

Home sale contingency 105

Home sale contingency Closing costs Investor Sales 105