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Considering Waiving the Appraisal Contingency? Here’s What to Know

HomeLight

Well, according to Florida real estate agent Damian Costantino, a contingency is a stipulation written into the purchase contract that needs to be met or resolved before moving to the closing table. Essentially, its a condition the buyer or seller has to clear up before the sale can continue.

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What Does Contingent Mean in Real Estate Sales

Realty Biz

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

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Can You Put an Offer on a House That’s Contingent?

RIS Media

Once you find your dream home and it happens to be marked as contingent, you can still place an offer. Here’s all you should know about contingent sales as a potential home buyer. Contingent meaning. An active listing means the home in question is currently on sale, and sellers are actively open to offers.

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What Does It Mean When a House Is in Escrow?

HomeLight

You can then make a strong offer on your next home with no home sale contingency. This ensures that both the buyer and the seller fulfill their respective obligations before the sale is finalized. What’s happening while a home is in escrow? Get Started What does ‘in escrow’ mean in real estate?

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17 Home Closing Delays and How You Can Avoid Them

HomeLight

There’s a house for sale that you want to buy. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process.

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What Are Common Terms and Conditions in a House Offer

Realty Biz

When the home inspection finds some problems, the seller might agree to cover the cost and have the problem fixed. The language in the offer to purchase will allow you to escape the sale with your money back. They will remove the appraisal contingency that is inherent with getting a mortgage. 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

There are other possible contingencies that a seller may encounter in reviewing offers, such as a Home Sale Contingency , which allows the buyer to back out of the agreement in the event that their current property doesn’t sell in time. In competitive markets, this contingency is very unattractive to sellers.