Remove Inspection contingency Remove Renovation Remove Title
article thumbnail

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.

MLS 105
article thumbnail

How to Get Cash for Your Home: A Step-by-Step Guide

HomeLight

They can purchase a property at a discount, providing value through a quick sale to the owner, and leverage their funds and expertise toward a profitable renovation. If the whole house has been renovated recently and the seller wants full market value, they’re typically better off working with an agent.”. Inspection period.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Find & Buy for Sale by Owner (FSBO) Homes in 6 Steps

The Close

Short-term FSBO Financing Options Short-term FSBO financing is ideal for investors who are navigating how to find for sale by owner homes and wish to acquire, renovate, and sell a property within a brief period. Rehab loans: Specifically designed to finance both the purchase and renovation of under-maintained properties.

Sales 52
article thumbnail

The Pros and Cons of Making an All-Cash Offer on A House

HomeLight

These could include: The appraisal contingency : Lenders require an appraisal, but if you are paying cash and you’re confident that the price is fair, you don’t need one. The inspection contingency : As a cash buyer, an inspection contingency is optional. This can save you between $300 and $450.

article thumbnail

13 Steps to Buying a Bank-Owned Foreclosure

HomeLight

If your offer is accepted, you start the process of inspections, title checks, and negotiations while securing a mortgage loan and signing the papers when it’s all said and done. Bank-owned homes may not be the best-staged or the most recently renovated. Step 9: Order an inspection. Step 2: Consider dealbreakers.

Banks 98
article thumbnail

How to Buy a Foreclosed Home: The Ultimate Step-by-Step Guide

Redfin

Investors may see foreclosure purchases as an opportunity to renovate and resell for a profit, while homebuyers may find a house they wouldnt otherwise be able to afford. Lenders will typically clear the title and vacate the property before selling it to you. The certificate of title may take up to 10 days.

article thumbnail

How to Sell a House by Owner in Texas

HomeLight

Let’s review some of the top points of negotiation you may encounter: Contingencies Buyers may ask for the offer to be contingent on other factors, such as the sale of their existing home or their ability to obtain financing. However some of these costs — such as title fees and escrow fees — can be negotiated in many instances.