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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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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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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 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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Think The Cash Closing Process Is Always Fast? 11 Delays Buyers Should Watch Out For

HomeLight

A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. The title isn’t clear.

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What Does It Mean When a House Is in Escrow?

HomeLight

Unlock Your Equity and Buy Before You Sell Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home. You can then make a strong offer on your next home with no home sale contingency. What’s happening while a home is in escrow?

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A Seller’s Guide To When A Buyer Does and Doesn’t Get Their Earnest Money Back

HomeLight

5k for a $500K home). It is usually held in the broker’s or title company’s trust or escrow account until closing. It is refunded to the buyer only upon certain contingencies specified in the contract. In competitive markets, this contingency is very unattractive to sellers. The home’s appraisal comes in low.