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Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

.” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” ” What do they mean and how will they affect your home sale? One of the most confusing things for buyers and sellers to understand is what contingent means vs. pending.

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Real Estate Pending Vs. Contingent: MLS Lingo Explained for Sellers

HomeLight

So what are the contract stipulations that put a listing into that “Contingent” stage, and how common is it for a property to hang in closing limbo? Here are 5 common contingencies in real estate contracts: Inspection contingency A buyer and their lender understandably want a home inspection to make sure they’re not investing in a lemon.

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Closing Documents for Buyers: 15 Closing Documents to Bring, See, Sign

HomeLight

You’ll need to bring or sign a whole slew of documents to complete the purchase. If you purchased title insurance, it would be in here, too. There are some instances where the buyer’s agent will work with the seller’s agent to get the seller to pay their debts so the purchase can go through. Photo identification.

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When Is a House Down Payment Due and How Much Do I Need?

HomeLight

It’s the first financial move you’ll make in securing your new home purchase. Since a down payment is, as the term suggests, the amount of money you’re putting down on the purchase of your home, your mortgage lender will need to see proof of these funds fairly early on in the approval process. Let’s jump in! Property taxes.

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Your Guide to Buying a Home in the Sunshine State of Florida

HomeLight

Before you start looking for homes in Florida, you want to determine if you’re ready to purchase one. Homebuyers in Florida pay an average of approximately 2.58% of the home’s purchase price in closing costs when purchasing a home. Saving for your down payment. The median home price in Florida is $415,762 as of July, 2022.

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How Long Does it Take to Close on a House? 11 Steps From Your Offer to Keys in Hand

Redfin

Practically speaking, you’re committed to your lender from this point forward, since there won’t be time to restart the mortgage process with a new lender and still meet the closing date shown in your purchase agreement. This includes finalizing the property you are purchasing. Average time: 7-14 days.

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A Fail-Proof System for Estate Sale Listing Success

HomeLight

But when it’s an estate sale, emotions can run even higher. He is the broker and owner of Proof Real Estate in San Francisco, California where he specializes in estate sales. On today’s episode, we’re gonna talk about Craig’s five-step formula for estate sale listing success.

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