Redfin

MARCH 4, 2025

Step 1: Get pre-approved If you’re buying with a loan, include a pre-approval letter with your offer. A mortgage pre-approval can also reassure the letter that your financing is likely to be approved during closing. In a competitive situation, you can ask to do a pre-inspection of the home.

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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. Make Sure You Have a Proper Approval Letter From a Reputable Lender. CALL the Listing Agent.

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Home sale contingency Pre-approval Earnest money deposit Marketing 116

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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Inspection contingency Pre-approval Mortgages Inspection 133

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. Zillow forecasts a 2.8%

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HomeLight

JANUARY 3, 2024

After you open escrow and the buyer submits a good faith earnest money deposit, some or all of the following contingencies may need to be addressed: The financing contingency will appear in contracts where a buyer needs to finalize a mortgage loan to purchase the home. It creates uncertainties, especially for anxious sellers.

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 115

Point2Homes

SEPTEMBER 30, 2021

If you haven’t already, try hiring a real estate agent to market your home. And the more time your home spends on the market, the more it becomes a red flag to them. It’s possible that you’ve priced your home too steep compared to the market value or that the neighborhood itself is in decline. Lowball Offers.

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Redfin

FEBRUARY 2, 2021

What is a Seller’s Market? A seller’s market is when there are more homebuyers in a particular area looking to purchase a home than actual houses listed for sale. A seller’s market usually results in rising home prices and stiffer competition among homebuyers. How has the pandemic affected the market?

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Realty Biz

AUGUST 22, 2022

That’s probably why the price was a little below the market average. Yeah, I’ve been studying the market for a while and knew what houses were selling for. In my eagerness to buy my first home, I made a full-price offer with the only continency being that my mortgage was approved. I didn’t even include an inspection contingency.

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Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 95

Redfin

MARCH 4, 2025

These properties are often priced below market value, making them attractive to buyers looking for a good deal or hoping to build equity quickly. However, chances are you can buy the home below market value and you wont need to negotiate with a seller or bank. If the auction accepts financing, make sure you have a pre-approval ready.

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Realty Biz

NOVEMBER 11, 2020

Let’s take a closer look at the meaning of contingent , so you can see how it might affect a home you are looking to buy. How your real estate agent markets your property when an offer has been accepted can have vital implications. For example, some agents will mark your home contingent, while others will mark pending.

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HomeLight

MARCH 28, 2025

The current high interest rate market is likely contributing to this uptick in failed deals. Here are some of the most common reasons a home sale falls through: Home inspection contingency: Your buyer may have walked away due to repair concerns or surprise issues found during the inspection.

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Purchase and sale agreement Home sale contingency Sales Inspection contingency 52

HomeLight

JUNE 21, 2022

Buyers typically pay for the inspection to uncover major issues that may give them second thoughts about purchasing the house and avoid surprise repairs after moving in. Contingencies can be costly. The appraiser utilizes this information to establish the home’s worth which affects the size of the mortgage the bank will approve.

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Inspection Purchase and sale agreement Pre-approval Inspection contingency 122

HomeLight

AUGUST 25, 2020

The overarching question, as you make your way down your pre-sale checklist , is likely something along the lines of: “How long is this going to take?”. home was on the market for an average of 24 days , with Ellie May estimating an average of 46 days to close on a purchase loan. Source: (Sarah Shaffer / Unsplash).

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Closing Pre-approval Inspection Days on market 122

HomeLight

OCTOBER 20, 2022

Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes. Many FSBO sellers will purchase a pre-listing appraisal. A professional appraisal will help determine the listing price based on fair market value.

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Purchase and sale agreement Pre-approval Inspection Title 111

HomeLight

APRIL 29, 2021

“Sellers don’t always understand the condition that their property should be in bringing onto the market,” says Thompson. Your buyer’s loan approval is often the closing step that takes the longest. A buyer might even waive their right to a home inspection if there’s already a report on file.

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Purchase and sale agreement Pre-approval Inspection Inspection contingency 98

HomeLight

APRIL 21, 2022

To help you evaluate your first offer, we’ll walk you through key consideration points, how to weigh the strength of the offer, encourage you to assess your objectives, and how to factor in market conditions. Your house has been on the market three months or more. You found your new home and want to avoid carrying two mortgages.

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Inspection contingency Home sale contingency Pre-approval Agents 111

Redfin

JULY 30, 2020

Almost half (45%) of people who bought a home in the past year made an offer on a property that they hadn’t seen in person, the highest share since at least 2015, according to a Redfin-commissioned survey in May and June of more than 1,400 people across 29 major markets. PT on a Wednesday, and went to bed soon after.

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Inspection contingency Purchase and sale agreement Pre-approval Inspection 74

HomeLight

JUNE 30, 2021

Even as an agent with over 400 homes under my belt and 11 years of experience, I would never buy in a market in which I’m not licensed without a real estate agent,” says Jessica Arledge , a top agent who works with over 76% more single-family homes than the average Savannah agent. Be careful with this one, though! Where is the house?

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Purchase and sale agreement Inspection contingency Home sale contingency Inspection 98

HomeLight

AUGUST 31, 2021

Cash offers are more popular in some markets than others; for buyers trying to find a house in an area where cash offers are prevalent, competing against those offers can be a discouraging part of the homebuying process. The most obvious contingency with an offer that requires financing is, of course, the financing itself.

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HomeLight

JULY 31, 2020

Loan approval. In fact, buyers should go one step further (if they can) and get pre-underwritten for a loan , which offers even more security for both buyers and sellers. The lender must approve a short sale offer in advance, and this is a much more complicated and often lengthy process than a normal mortgage.

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HomeLight

OCTOBER 29, 2020

The need for a competitive offer is stronger than ever these days, when experts nationwide agree that the events of 2020 have created a robust seller’s market. This means buyers need to come prepared with enticing offers and the capacity to quickly follow through, and nothing can sideline an otherwise stable deal like tricky contingencies.

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Purchase and sale agreement Pre-approval Earnest money deposit Inspection 81

HomeLight

NOVEMBER 9, 2021

The recent housing market has been hot and competitive due to an extreme lack of inventory. For a seller in a hurry, the shortage of homes means you can anticipate fewer days on market (DOM). That said, the number of days your home is on market depends on several factors, such as: The location of your home. Days on Market.

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Purchase and sale agreement Home sale contingency Title search Inspection 105

Windemere Selling

MARCH 14, 2022

When selling your home, a buyer may make their offer with contingencies attached. Here are some common contingencies you might see in a buyer’s offer and what they mean for you. Even if a buyer is pre-approved for their mortgage , they may not be able to obtain the right loan for the home.

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

Redfin

AUGUST 29, 2024

Debt-to-income ratio (DTI) Another major factor that a lender will consider when approving your mortgage loan is your debt-to-income ratio (DTI). Get pre-approved As you’re researching how to buy a house, you will want to get a mortgage pre-approval. The number is then multiplied by 100 to get the final percentage.

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Earnest money deposit Purchase and sale agreement Pre-approval Debt-to-income ratio 63

Dwell Real Estate

JUNE 24, 2021

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. A seller might entertain other offers after a refusal, but won’t deal with another buyer until the contingent offer is settled in one way or another.

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HomeLight

MARCH 31, 2022

The seller’s market continues to boom in Florida. drop in median time on the market. We’ll also provide a comprehensive overview on the full process to prep, market, and close on your home without the assistance of a real estate agent. Average time on market: 14 days (Jan 2022). Can FSBO sellers post a yard sign ?

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Purchase and sale agreement Inspection Title Inspection contingency 111

HomeLight

JANUARY 3, 2023

Higher interest rates have been cooling the housing market nationwide, and real estate in Colorado is no exception. Inventory is starting to rise along with the average number of days on market as of September 2022. Within three weeks of marketing on their own, 80% to 85% of FSBO people will contract with a real estate agent.

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Purchase and sale agreement Inspection Inspection contingency MLS 115

HomeLight

MARCH 30, 2021

Ask your real estate agent to help you gauge the current real estate market in your preferred area. Days on market: The speed at which houses are selling can be telling. If houses are sitting on the market for a while, you may get a better deal … but is there a reason why buyers are shying away from a particular area?

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Due diligence Inspection Title Pre-approval 105

Realty Biz

DECEMBER 23, 2022

Last December, 19% of homebuyers waived the home inspection contingency component of their real estate sales contract. Even though most realtors don't recommend not ordering a home inspection, in a tight market, waiving the contingency may improve a buyer's chances of a seller accepting their offer.

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Redfin

OCTOBER 12, 2020

From navigating the mortgage approval process to the possibility of a bidding war, it can be tricky to go at it alone. Make sure they’re knowledgeable about your local real estate market and the neighborhoods you’re looking to purchase a home in. . However, even if this isn’t your first rodeo, the homebuying process can be complex.

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Title Inspection Pre-approval Inspection contingency 73

HomeLight

SEPTEMBER 15, 2021

Comparative market analysis. Proposed marketing plan. Pre-listing inspection report. Contingency removal form (CA-specific). If a buyer’s mortgage lender requires a copy of the homeowners insurance, you’ll need to provide it for the loan to be approved. Comparative market analysis. Past utility bills.

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Purchase and sale agreement Inspection Title Pre-approval 116

HomeLight

MARCH 6, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs to consider as well. The benefit of owning a house far outweighs what might be considered a higher interest rate in the current market.” Loans are between 3%-3.5% These loans also offer 0% down for qualified borrowers.

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HomeLight

JUNE 17, 2022

With some housing markets starting to cool off, pricing your home has to be just right. Each method has its advantages, depending on the current market conditions, your financial situation, and your selling objectives. List your home below market value. When will pricing my home below market value work in my favor?

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Inspection Pre-approval Inspection contingency Renovation 111

The Close

FEBRUARY 6, 2024

Ensure Your Client Has Loan Pre-approval Many sellers are anxious to get to the closing table quickly, which drives many to cash buyers , even for a lower price. Also, understand the difference between a prequalifying and a pre-approval letter. In fact, I suggest quite the opposite. What if there’s structural damage?”

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HomeLight

MARCH 2, 2023

Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well. Henderson says that while connecting with a reputable agent who knows the San Diego market is important, one thing potential buyers should be sure to do is to align themselves with a great lender.

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Closing Earnest money deposit Sales Inspection 118

Redfin

FEBRUARY 10, 2021

What to Expect for the Housing Market in 2021. housing market is different. While the economy expands and contracts, the housing market reacts, producing buyers and seller’s markets. The housing market will remain strong through 2021 as the economy recovers from the pandemic-driven recession.

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Debt-to-income ratio Pre-approval Inspection Purchase and sale agreement 76

Dwell Real Estate

JUNE 24, 2021

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. A seller might entertain other offers after a refusal, but won’t deal with another buyer until the contingent offer is settled in one way or another.

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Inspection contingency Earnest money deposit Pre-approval Inspection 40