Keeping Current Matters

SEPTEMBER 15, 2021

In today’s sellers’ market , standing out as a buyer is critical. Speed and the pace of sales are contributing factors to today’s competitive housing market. According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), the average home is on the market for just 17 days. Bottom Line.

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Keeping Current Matters

JUNE 21, 2021

The problem is, in today’s market there just aren’t that many homes available to purchase. Today’s market is dynamic and fast-paced. In today’s market, that’s often not the case. In such a competitive market, emotions and prices can run high. Just remember, there are certain contingencies you don’t want to forego.

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Housing Wire

FEBRUARY 20, 2024

A housing market marked by relatively high interest rates and tight inventory — and punctuated by the practice of home inspection waivers to sweeten offers — are taking a bite out of business for home inspectors, who play a key role in the sales process by ensuring that buyers are not being sold a lemon of a house. and Canada.

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Redfin

JULY 28, 2020

markets waived the inspection contingency, compared with just 13.2% Winning offers waived the appraisal contingency at a similar rate—20.6%—up The inspection contingency allows the buyer to cancel a purchase or request repairs if they find an issue during the inspection period. In June, 19.9%

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HomeLight

JUNE 9, 2023

Most real estate contracts — or roughly 80% — contain contingencies , according to data from the National Association of Realtors (NAR). As of 2023, 79% of contracts included an inspection contingency while 82% contained an appraisal contingency. What are the most common contingencies?

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Realty Biz

AUGUST 3, 2020

markets waived the inspection contingency , compared to just 13.2% of successful offers also waived the appraisal contingency, up from 17.4% The inspection contingency allows the buyer to cancel a purchase or request repairs are made to the property following a home inspection. In addition, 20.6%

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Realty Biz

JULY 6, 2022

It is not unusual for real estate markets to change. Quite often real estate markets stay the same for quite a while and then something happens that causes a shift. Sometimes it is the general economy, other times it could be interest rates moving significantly up or down, and possibly the stock market changing drastically.

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Lighter Side of Real Estate

AUGUST 16, 2022

The most common ones are: Mortgage contingency: If the buyer’s mortgage isn’t approved, they can back out of the contract. Appraisal contingency: If the house doesn’t appraise for as much as the buyer is offering, they can cancel the contract. In most areas, the market hasn’t shifted to a true buyers’ market.

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Realtor.com

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency.

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Redfin

MARCH 7, 2025

While the buyer is usually responsible, there are some exceptions, especially if the seller is motivated or the buyer is in a highly competitive market. When do sellers pay for the home inspection? While it’s not the norm, there are situations where the seller pays for the home inspection.

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Realty Biz

SEPTEMBER 23, 2020

With buyers facing increased competition for what few properties are on the market, some are choosing to waive the home inspection. But while waiving the property inspection always used to be about making an offer more enticing and stand out in a bidding war, these days that’s not always the reason why buyers are offering it.

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Realty Biz

JULY 7, 2021

There may not be enough houses on the market right now, but more are coming on the market every day. When the market demands it, your highest offer should be at the high end of the market analysis. In today’s market, a good strategy is looking at houses below the top end of your budget.

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HomeLight

SEPTEMBER 6, 2024

Other types include a sales contingency , financing contingency, and inspection contingency. Price Your Home to Minimize the Chance of a Low Appraisal Our Home Value Estimator is a great starting point, and we’ll send you a detailed analysis of your home’s value based on local housing market data.

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RIS Media

JULY 14, 2021

“That sticker shock may be increasingly common in a competitive market where buyers are dropping inspection contingencies as a strategy to win a bidding war.

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Redfin

MARCH 4, 2025

Here are some general guidelines: In a competitive market, homes tend to get multiple offers and sell for around list price or higher. In a less competitive market, or if a home has been for sale for 30 days or more, successful offers under list price are more common. Do some homework up front.

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HomeLight

DECEMBER 29, 2023

As a homebuyer entering a competitive real estate market, it’s likely you’ll encounter the term “non-contingent offer.” A non-contingent offer is often seen as a bold move in residential real estate transactions, signifying an offer to buy a property without certain conditions or “ contingencies ” that must be met first.

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HomeLight

SEPTEMBER 9, 2020

But if your cash is socked away in various places, like stocks or money market accounts, you’ll want to cash out those accounts and gather your money together. Offering cash for a home purchase will make you more competitive in a seller’s market, says Ludecker. “I Source: (Kelly Sikkema / Unsplash). Make an offer.

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HomeLight

NOVEMBER 8, 2024

This can mean that the buyer’s financing is approved, the inspection contingency is met, or any appraisal concerns are resolved. More on contingencies in a minute.) If the current buyer’s offer includes conditions, referred to as contingencies , that they are unable to meet, this may open up a window of opportunity.

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RIS Media

AUGUST 31, 2021

Despite the demand for limited homes persisting, signs of a market cooldown continued in July, according to the latest report from the National Association of REALTORS® (NAR). According to the report, 27% of buyers bypassed appraisal and inspection contingencies in July. decline last month, falling to 110.7. MoM — Now 92.0

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Realty Biz

FEBRUARY 20, 2021

Home inspection: often called a due diligence contingency, will give the buyer rights to have the house inspected. Most buyers will have a home inspection contingency in their contract. Home sale contingencies are often frowned upon due to their risky nature.

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Realty Biz

DECEMBER 31, 2020

Question from Bethanny in WA: Hello Brian, the 2020 housing market has been afflicted with low inventory, rising home prices, endless bidding wars, and of course the coronavirus. The biggest variable will probably be employment levels that will determine the number of buyers chasing the limited number of homes on the market.

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The Close

SEPTEMBER 10, 2020

A strong seller’s market is a lot like dealing with the craziness of this pandemic. Hating to lose more than I wanted to win, I came up with these seven creative strategies to make any offer stand out in a seller’s market. In a seller’s market, your buyer is going to have to move fast once they find a home they love.

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Realty Biz

FEBRUARY 25, 2022

These costs may not have been such a worry before, but with many buyers waiving the home inspection contingency with the housing market so competitive, they could be in for a big surprise, Wilson said. He advises that an inspection should still be performed even if it wasn’t a part of the home buying process.

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Realtor.com

JANUARY 4, 2023

Inventory levels are still low, but there are more homes coming on the market; the bidding wars and mind-boggling offers over the asking price have died down; and buyers can once again insist on inspections, contingencies, and repairs before the deal closes. “That’s easy,” said a fellow writer.

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HomeLight

DECEMBER 30, 2023

What buyer contingencies might put a listing back on the market? What home contingency missteps should you avoid when making an offer? An appraisal contingency allows the buyer to either renegotiate their offer or freely walk away from the agreement if the appraisal comes in under the contracted offer price.

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HomeLight

OCTOBER 30, 2020

For example, let’s say the market crashes, and your 401(k) loses a huge amount of value overnight. With cash, buyers are able to waive common contingencies, making the deal smoother and faster (not to mention sweeter for the seller). “Why would you run into financing issues if you’re buying a home in cash?”.

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HomeLight

JANUARY 13, 2022

Common contingencies include issues with appraisals, home inspections, or the buyer’s home sale. In other words, the primary deal on an active contingent listing might (maybe) fall through, causing sellers to place their home back on the market — or accept a backup offer. “I Inspection contingencies.

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HomeLight

AUGUST 19, 2022

After a two-year real estate boom, the market is showing signs of cooling off. housing market reached its peak? People need to understand that we’re coming off of the Fed trying to manipulate the market. What does it mean for the US housing market to ‘peak’? We need a more stable market and not the frenzy that it was.”.

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HomeLight

AUGUST 5, 2024

In a perfect world, selling a house with no contingencies would be the norm. Buyers would come in with rock-solid financing and make an offer knowing that the price of the home reflects its condition and fair market value , and sellers’ homes would be in excellent condition.

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Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? Here are five seller concessions that I’m using that can help navigate today’s market: 1. Buyers may choose to use their seller’s concession towards costly repairs outlined in the inspection. You are certainly not alone.

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Realty Biz

OCTOBER 12, 2021

No wonder, a big number of prospective buyers have found themselves locked out of the market – especially first-time buyers – while others have been forced to stretch their budget beyond what they can comfortably afford. In August, they comprised just 29% of sales, far below the 40% of the market this segment traditionally makes up.

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HomeLight

JANUARY 31, 2025

What fixes are mandatory after a home inspection? Although 20% of buyers waived inspection contingency , you may still be obligated to resolve certain issues, depending on your states and the buyers lenders policies. Find Agent What fixes are mandatory for a seller to make?

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Realty Biz

APRIL 20, 2022

Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause.

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HomeLight

NOVEMBER 29, 2021

This type of contingency can last between 30 and 90 days. Inspection contingency. A home inspection typically involves an inspector taking a look at different parts of the house, which includes the foundation, grounds, basement, roof, attic, home systems, and more. Kick-out clause.

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Realty Biz

MARCH 13, 2024

This article explores the key factors home buyers need to know about the Maryland housing market this year. Getting Pre-Approved For A Mortgage In a seller’s market like Maryland, getting pre-approved for a mortgage loan should be one of the first steps for hopeful buyers. Don’t get emotionally swept up and overpay.

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HomeLight

JANUARY 3, 2024

The appraisal contingency is a clause that gives the lender the opportunity to have an appraisal done and ensure the amount the buyer is offering for the house is fair market value. Alternatively, if the conditions aren’t met, the house could go back on the market. It creates uncertainties, especially for anxious sellers.

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Point2Homes

DECEMBER 8, 2020

Therefore, if you find a property that you really want to purchase but has been marked as “contingent,” it could be well worth your time to have your real estate agent check into where things are in the transaction. How is Contingent Different from Pending? Probate contingencies are far less common.

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