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What Is a Home Sale Contingency?

HomeLight

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.

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

HomeLight

Financing contingency: The buyer must qualify for a mortgage loan and receive financing for the deal to continue. Home sale contingency: Buyers purchase is dependent on the sale of their existing home. Title contingency: The sale of the home is contingent on the title search showing no issues or concerns.

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What Does Contingent Mean in Real Estate Sales

Realty Biz

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.

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

RIS Media

If the house doesn’t get sold in the stipulated time, the sale can fail to materialize. The clause is referred to as a home sale contingency. . The title search reveals issues. Whenever you’re purchasing real estate, a title search is one of the standard boxes that must be checked.

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What Buyers Need to Know About Making an Offer on Active Contingent Listings

HomeLight

However, your mortgage lender will not loan you more money than a house is worth, so if the appraisal determines that the sales price is higher than the home’s actual value, as the buyer, you’ll need to be prepared to come up with the money to make up any difference. Home sale contingencies. Title contingencies.

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17 Home Closing Delays and How You Can Avoid Them

HomeLight

If all else fails and the repairs are too significant, it’s important to have an inspection contingency in the contract that allows the buyer to cancel the deal after evaluating the inspection report without losing their earnest money deposit. Problems with the title. Home sale contingency. Short sale.

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What Are Common Terms and Conditions in a House Offer

Realty Biz

So it might be agreed that the seller takes care of escrow or title search fees, with a buyer dealing with the rest. Home Sale Contingency. If you need money from selling your own home to buy a new property, a home sale contingency can be added to the offer.