HomeLight

AUGUST 31, 2021

The lender usually also requires additional contingencies before they’ll approve the loan, such as an appraisal contingency to make sure the home is worth the amount they are loaning you to buy it, and an inspection contingency to see if there are any potential problems. There’s no financing contingency.

Due diligence 106

Due diligence Inspection Pre-approval Pre-qualification 106

HomeLight

APRIL 29, 2021

Do you need interim housing, a specific closing date, or a seller rent back ? Your buyer will use the home inspection report to leverage a deal. To avoid repair negotiations, some sellers conduct a pre-listing inspection to get ahead of issues and make repairs in advance. You accepted an offer ! But not so fast.

Purchase and sale agreement 98

Purchase and sale agreement Pre-approval Inspection Inspection contingency 98

Redfin

JULY 30, 2020

Yaaran’s clients, who were at the time living in Virginia but planning to move back to the Seattle area for a job at Amazon, found their dream home after doing a video tour on FaceTime. They sent a Seattle-based relative to attend an in-person showing and the pre-inspection, submitted an offer at 6:20 p.m.

Inspection contingency 74

Inspection contingency Purchase and sale agreement Pre-approval Inspection 74

HomeLight

FEBRUARY 28, 2022

Some sellers will even order their own inspection prior to putting their house on the market, especially if they know the house needs significant work. Decide on contingencies. If so, you’ll want to decide what kind of contingency you plan to include with the listing.

Equity 126

Equity Debt-to-income ratio Closing Loans 126

HomeLight

MARCH 20, 2023

Other common contingency clauses include: Inspection Contingency: If the buyer finds fault with the home inspection report, they can ask for the seller to make repairs, or they can cancel the contract within the contingency period. Offer to accept a rent-back agreement. Flexibility shows good faith.

Home sale contingency 105

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 105

HomeLight

APRIL 21, 2022

If specific criteria aren’t met, the deal can fall through; i.e., the sale is contingent upon various factors outlined in the offer. Therefore, the fewer contingencies tied to an offer, the more likely the deal will reach closing. Common contingencies include an inspection contingency and an appraisal contingency.

Inspection contingency 111

Inspection contingency Home sale contingency Pre-approval Agents 111

HomeLight

FEBRUARY 28, 2021

A home inspection can help buyers get a good grasp of the home’s condition. Waive home inspection contingencies — but NOT the home inspection. Waive appraisal and finance contingencies. Offer a rent-back clause to the seller. Work with a local lender who understands Arlington.

Earnest money deposit 105

Earnest money deposit Land Residential Inspection contingency 105

The Close

FEBRUARY 6, 2024

When you remove the possibility of your buyers backing out, you’re giving that seller peace of mind that your clients are in it to win it. Waive the Inspection Contingency Let me be clear—I am in no way suggesting that your buyers should not do a whole home inspection. In fact, I suggest quite the opposite.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

SEPTEMBER 11, 2020

Your offer will be stronger if you build in some wiggle room relating to factors that might seriously entice the seller to pick you: Can you offer rent-back? No sales contingency? Make sure your agent stresses that your offer doesn’t contain a sales contingency. Decide where you can be flexible. A bigger down payment?

Earnest money deposit 98

Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 98

Redfin

FEBRUARY 2, 2021

Earnest money protects the home seller in case a buyer backs out of a home sale after the offer was accepted. Unless a homebuyer backs out due to something coming up in a home inspection or appraisal, the seller will get to keep the earnest money. 9) Be willing to make concessions during negotiations.

Pre-approval 66

Pre-approval Purchase and sale agreement Marketing Inspection contingency 66

HomeLight

OCTOBER 12, 2020

That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. I’ve gonna give them free rent back. High price, short inspection period, quick close. I can’t do the three-week close unless I can order the appraisal tomorrow and inspect on Monday.

Agents 98

Agents Inspection Inspection contingency Pre-approval 98

HomeLight

MARCH 22, 2021

That last one, miscellaneous bucket, that includes things like contingencies and rent backs and so forth. I’ve gonna give them free rent back. High price, short inspection period, quick close. I can’t do the three-week close unless I can order the appraisal tomorrow and inspect on Monday.

Agents 75

Agents Inspection Inspection contingency Pre-approval 75