HomeLight

MARCH 31, 2022

But one of the most influential bargaining tools is eliminating contingency clauses, especially the seller contingency clause, also known as the home sale contingency. What is a contingency clause? Let’s begin by looking at the “what” and “why” of contingency clauses. Why would you want a home sale contingency?

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 80

The Close

FEBRUARY 6, 2024

The less your buyers need to finance, the less likely the deal will fall through. They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. Example: I had some clients move from another state where they had just sold their previous home.

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Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

AUGUST 31, 2021

The associated contingencies , which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan. The most obvious contingency with an offer that requires financing is, of course, the financing itself. Updated August 31, 2021.

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Due diligence Inspection Pre-approval Pre-qualification 76

Redfin

FEBRUARY 2, 2021

If you don’t have to use a lender, there’s no financing contingency, which shows the sellers that you will most likely not pull out of the deal due to financial issues. What is a Seller’s Market? A seller’s market is when there are more homebuyers in a particular area looking to purchase a home than actual houses listed for sale.

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Pre-approval Purchase and sale agreement Marketing Inspection contingency 65

HomeLight

JUNE 30, 2021

This is why many buyers make offers on their new home that include a sales contingency. With a sales contingency in your offer, you won’t have to close on your new home unless you’ve sold your old home. What is a contingency? Regardless of its format, it will include contingencies.

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Rent back Inspection contingency Earnest money deposit Finance 104

Realtor.com

OCTOBER 29, 2020

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. If something is wrong, you can request that it be fixed—or you can back out of the sale. Clear the title.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

FEBRUARY 28, 2022

If this happens, you have to decide whether or not you want to remove your contingency,” says Erik Jacobs , a real estate attorney with Cicero, France, Barch & Alexander, P.C. In the real world, however, it’s not always that easy, and you can usually expect some overlap as you navigate how to sell and buy a house at the same time.

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Equity Debt-to-income ratio Closing Loans 118