RIS Media

APRIL 8, 2022

Since most homes are financed, and financing isn’t guaranteed until a buyer has signed the dotted line, failure to secure funds can put a home back up for sale. While financing may be pre-approved, the process is complex. If the house doesn’t get sold in the stipulated time, the sale can fail to materialize.

Debt-to-income ratio 144

Debt-to-income ratio Title search Backup offer Home sale contingency 144

Realty Biz

NOVEMBER 11, 2020

Understanding how a home inspection works is essential for both buyers and sellers, given the importance of this real estate transaction phase. Home Sale Contingency. If the buyer still needs to sell their home before they can close on the new property, a home sale contingency can be put in place.

Backup offer 111

Backup offer Home sale contingency Sales Earnest money deposit 111

HomeLight

JUNE 23, 2022

It is simply a period of time that the buyer sets to secure financing approval from a lender for the purchase of the home. However, the seller-focused Kick-Out Clause allows the seller to continue marketing the home and receiving offers. The home’s appraisal comes in low. Buyer’s current home doesn’t sell in time.

Earnest money deposit 111

Earnest money deposit Purchase and sale agreement Due diligence Home sale contingency 111

HomeLight

NOVEMBER 9, 2021

A buyer using a mortgage will most likely include the following contingencies (all of which have deadlines): Inspection contingency (note: this one is optional and buyers can choose to waive it). Appraisal contingency. Home sale contingency. Mortgage contingency. A title search can take up to 14 days.

Purchase and sale agreement 105

Purchase and sale agreement Home sale contingency Title search Inspection 105

Realty Biz

JULY 1, 2023

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. Step 6: Ensuring Clear Title When buying a home, ensuring a clear title is paramount.

Purchase and sale agreement 77

Purchase and sale agreement Earnest money deposit Title search Pre-approval 77

Redfin

MARCH 3, 2022

Unless you’re submitting an all-cash offer, you’ll need to obtain financing to purchase your home. It’s recommended to get pre-approved before house hunting to give yourself a realistic idea of how much home you can afford ; however, a mortgage pre-approval doesn’t guarantee that your loan application will be approved.

Closing 63

Closing Title search Purchase and sale agreement Title 63

Windemere Selling

MARCH 14, 2022

If the seller chooses not to make the repairs outlined in the buyer’s home inspection report, the buyer can cancel the contract. As a seller, it’s important to be transparent in listing any issues with the home. Even if a buyer is pre-approved for their mortgage , they may not be able to obtain the right loan for the home.

Home sale contingency 52

Home sale contingency Inspection contingency Purchase and sale agreement Pre-approval 52