Realty Biz

FEBRUARY 20, 2021

Contingencies in Real Estate Explained. Do you know what a real estate contingency is and how it works? Real Estate contingencies are when some defined action or outcome must occur before a contract becomes legal and binding. These contingencies need to be met for a contract to become ratified and binding.

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Purchase and sale agreement Inspection contingency Earnest money deposit Home sale contingency 136

Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

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Realty Biz

JULY 1, 2023

Navigating the escrow process is a critical aspect of home buying, ensuring a secure and smooth transaction for both buyers and sellers. Escrow acts as a neutral third party that holds funds and documents until all conditions of the home purchase are met. Selling your home can be a bumpy journey.

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The Close

SEPTEMBER 10, 2020

So if you want your offer to stand out, after confirming your buyer wants the home, initiate a call to the listing agent and ask these five key questions to start developing a rapport with the listing agent: What is the most important thing for the sellers besides price? What is the ideal timing they want or need to be out of their home?

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Realtor.com

DECEMBER 2, 2021

Why did Teresa Giudice’s home sale fall through? . So Giudice’s willingness to wait an additional 200-plus days in sale pending status was quite unusual—and probably a bad move on her part. . “A contingency period that lengthy is a poor decision. Common reasons why home sales fail . .”

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Redfin

JANUARY 26, 2022

When it comes to a real estate transaction like buying a home , a lot of important paperwork needs to be completed before you can call a home yours. One of these important pieces of paperwork is a purchase and sale agreement. . What is a purchase and sale agreement? What does the purchase and sale agreement consist of?

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HomeLight

JULY 31, 2020

While seamless closings are ideal for everyone involved, they almost never happen unless the buyer is paying cash on the home, and even then there can be a roadblock or two. Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). Loan approval.

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HomeLight

MARCH 20, 2023

Most often, this type of scenario calls for a home sale contingency. With the help of real estate agent Jesse Allen , a single-family home expert in southern Indiana , we’ll help to explain the ins and outs of home sale contingencies, and offer additional alternatives for buyers who currently own a home.

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HomeLight

OCTOBER 20, 2020

As any seller would be, you’re thrilled when an offer comes in for your property — but that excitement fades when you find out it’s contingent on the sale of the buyer’s home. You’re hesitant to put all of your proverbial eggs in one buyer’s basket when the sale might never actually happen.

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Redfin

MARCH 2, 2023

One important concept that all homebuyers should be familiar with though is the appraisal contingency. In this guide, we will explore what an appraisal contingency is and how it can impact your homebuying journey. What is an appraisal contingency? What is a contingent offer? How does an appraisal contingency work?

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HomeLight

JUNE 23, 2022

If you need assistance navigating the legalities of keeping earnest money from a real estate transaction, HomeLight always encourages you to reach out to your own advisor. What is earnest money? Earnest money is often referred to as a “good faith” deposit. 5k for a $500K home).

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HomeLight

JANUARY 3, 2023

Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. FSBO is a method of selling your home without the involvement of a listing agent. Quick FSBO overview.

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HomeLight

MARCH 31, 2022

Early 2022 data from Florida Realtors® indicates a 23% increase in median sales price and a 33.3% Average home sale price in Florida: $530,419 (Jan 2022). FSBO is a method of selling your home without the involvement of a listing agent. Disclaimer : HomeLight does not provide legal advice. Real estate transfer taxes? .

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HomeLight

MARCH 31, 2022

FSBO is a method of selling your home without the involvement of a listing agent. In a FSBO scenario, the seller assumes the responsibilities that would normally fall to their agent such as pricing the home, arranging showings, and negotiating the deal. Disclaimer : HomeLight does not provide legal advice. 2022 , a 28.5%

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HomeLight

OCTOBER 1, 2020

Will you lose your deposit? You now have skin in the game in the form of your earnest money deposit, plus you have a legal duty to buy the home (barring certain circumstances). So as a buyer, you should have a contingency in your contract to protect you in case you can’t get proper financing for the home.

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HomeLight

SEPTEMBER 11, 2020

Knowing how to write a strong offer won’t do you much good if you don’t have the budget to cover it because you’ve been looking at homes way out of your price range. Then, make sure you are only searching for, and writing offers for, homes you can truly afford. Source: (Andrea Piacquadio / Pexels). Get preapproved for a mortgage.

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HomeLight

JULY 26, 2022

Is it a yard sale? No…it’s a for sale sign!!! You’ve found yourself a FSBO home. What is a FSBO home? A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent. In fact, 57% of FSBO sellers knew the buyer of their home.

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HomeLight

JULY 31, 2022

But what if you decide that you don’t want to work with a buyer’s agent to buy your home? Chances are, if you’ve decided that buying a home without an agent is the best choice for you — and you’re reading this — you need some guidance for how to go about the process on your own. You’ve decided it’s time to buy a house !

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HomeLight

OCTOBER 30, 2020

If you’re looking to buy a home, you’ve probably heard that cash is kind of a big deal in real estate. A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. Financing issues. Why would you run into financing issues if you’re buying a home in cash?”. “Why

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