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Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In

Realtor.com

Get all contingencies squared away. Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. It’s rarely advisable to waive an inspection contingency.

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What Does Contingent Mean in Real Estate?

HomeLight

A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet. The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. Get Started Are contingencies common in real estate?

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How Do I Cancel a Home Purchase Offer? Cold Feet

Realty Biz

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. In a few short weeks, the market has gotten much softer in this neighborhood and I’m not even sure the house will appraise for my purchase offer.

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What Does ‘Under Contract’ Mean on a Home Listing?

HomeLight

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

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When a Home Sale Falls Through, What Now?

HomeLight

And then, unexpectedly, the home sale falls through. Thats one in seven pending home sales and one in seven life chapters placed on hold. Historically, a more typical average of canceled pending sales is 5%6%. Make a strong offer with no home sale contingency. Youre not alone. Get Started 1.

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The Key Paperwork You Need to Sell a House, With or Without a Realtor

HomeLight

Even if you’re listing your home without a Realtor’s® help, you’ll still need to gather the necessary paperwork for the sale and fill it out correctly. We hope it helps illuminate this tricky part of the sale, while giving you an honest idea of just how complex real estate transactions can be! Original sale contract.

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Your Guide to What Home Inspectors Look For

HomeLight

But you’ll still have to get over the home inspection hurdle that could reveal issues requiring repairs or cause buyers to renegotiate a lower sales price or even walk away from the deal. It’s critical to know what home inspectors look for because serious problems could derail the sale altogether. What is a home inspection?