HomeLight

SEPTEMBER 1, 2020

You can buy a short sale, or you can buy a bank-owned property — but the foreclosure is just what’s happening in the process.”. 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.

Banks 98

Banks Inspection contingency Inspection FHA loan 98

HomeLight

JULY 31, 2020

Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). If this problem can’t be resolved, an appraisal contingency in the contract allows the buyer to cancel the agreement and retain their earnest money deposit. Short sale.

Closing 119

Closing Purchase and sale agreement Title search Earnest money deposit 119

HomeLight

FEBRUARY 26, 2021

You might not be aware of every flaw — that’s for the home inspection to notice — but once you are, you can’t hide them, and legally, neither can your agent. Buyers can still get an inspection to unearth problems. A home inspection is part of a buyer’s due diligence. But not every “as is” home sale falls into that category.

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As-is Sales Inspection Investor 111

HomeLight

JULY 31, 2021

Inspection period. Jackson says there’s a decent chance a cash buyer will still include an inspection contingency in the contract — especially if they are offering closer to market value. Pay attention to the number of days allotted for the cash buyer to complete their inspection. Step 6: Pass the inspection.

Earnest money deposit 98

Earnest money deposit Inspection Inspection contingency Title 98

HomeLight

AUGUST 31, 2020

You will also have to expect a drawn-out process and condition issues, and you’ll have to button up your insurance and inspection processes. You can also be assured that the bank will have the house inspected before it’s available for sale, so you’ll at least know what condition it’s in before you buy it.

Banks 98

Banks Inspection Inspection contingency Title 98

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.

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Inspection contingency Home sale contingency Pre-approval Agents 111

HomeLight

OCTOBER 29, 2020

Contingencies can range from the relatively minor or otherwise workable — like requesting a $3,000 allowance to fix a plumbing issue that was revealed during inspection — to more serious stipulations, such as a buyer needing to sell their existing house before closing on the next. Negotiable contingencies. Home inspections.

Purchase and sale agreement 81

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

HomeLight

JULY 29, 2022

So get a contract, then call for a home inspection, and then call the insurance company — those are the calls that you make before you do anything else.”. There are certain properties I would immediately order a title search before I do anything else: A foreclosure , a short sale , a bankruptcy, an estate sale,” Houck says.

Closing 105

Closing Purchase and sale agreement Title Home sale contingency 105