Housing Wire

DECEMBER 8, 2023

Ultimately, every homebuyer prospect, every contract and every negotiation is different, but your value should be consistent for all situations and clients. How you conduct yourself and how you present to each buyer prospect should not vary by situation. Top 10 ways to get homebuyers to work with you 1. Always be one step ahead of your clients.

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Keeping Current Matters

NOVEMBER 30, 2020

There are, however, certain contingencies you don’t want to forego. Freddie Mac explains: “ Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Understand Your Finances. Make a Fair Offer. Bottom Line.

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HomeLight

JANUARY 31, 2024

Contingent listings can be puzzling and sometimes frustrating — especially when you’re searching for your dream home. In this post, we’ll unpack real estate contingencies, clarify the difference between contingent vs. pending, and explain how long a house might remain labeled as contingent. Why Move Twice?

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HomeLight

JANUARY 10, 2024

Most purchase agreements are contingent on two key items: home inspection and financing. As a homebuyer, knowing what these contingencies mean for you and the seller can help you make decisions with more confidence and avoid unexpected surprises and pitfalls. Get Started What does contingent mean when buying a home?

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HomeLight

AUGUST 16, 2021

You’ll see the term as-is when shopping for a house, but what exactly does as-is mean? Does it mean you’re about to walk into a home where the roof is falling in, or one that is occupied by a rogue family of raccoons? It can — but as-is doesn’t necessarily mean a home is unlivable or unsafe. Source: (Robin Jonathan Deutsch / Unsplash).

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Housing Wire

OCTOBER 27, 2020

Some are waiving inspection contingencies, while others are avoiding repair requests, opting to handle home repairs, fixes and upgrades as needed later on. While this approach could certainly help buyers win out in a bidding war, the strategy also comes with some serious risk — especially if the home inspection is skipped.

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HomeLight

JUNE 9, 2023

But as your eyes scan the details of the listing, you come across a term that makes you pause: “Contingent.” ” So, what does contingent mean in real estate? A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet.

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Realty Biz

MARCH 19, 2021

Typically, the onus has always been on the buyer to pay for the home inspection once their offer has been accepted, but that can lead to a longer wait before closing, and also negotiations over the cost of repairs if any issues with the home are surfaced. Due to this, waiving the home inspection has emerged as a common tactic among buyers.

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HomeLight

FEBRUARY 6, 2024

You’ve been searching for a home to buy, and you come across a property you love only to see it’s labeled as “contingent.” ” or even, “Can you make an offer on a contingent house?” Learn More What does contingent mean on a house listing?

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HomeLight

SEPTEMBER 30, 2020

That, or you’ve heard horror stories about the seller who attracted a great offer only to get taken to the cleaners over the inspection. With the average buyer negotiating $14,000 in savings from the inspection , your concerns are valid. Under the inspection contingency, the buyer asks you to repair it (even though you listed as is).

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Lighter Side of Real Estate

AUGUST 16, 2022

It wasn’t just about price; they also had to come in with as “clean” an offer as possible, which often meant waiving fairly standard contingencies. In case the term isn’t something you use in day to day life, a contingency is a clause in the contract that is in place to protect the buyer. Waiving a home inspection isn’t ideal.

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Realty Biz

AUGUST 3, 2020

markets waived the inspection contingency , compared to just 13.2% of successful offers also waived the appraisal contingency, up from 17.4% The inspection contingency allows the buyer to cancel a purchase or request repairs are made to the property following a home inspection. who did so in June 2019.

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HomeLight

FEBRUARY 26, 2021

A couch with a red wine stain. An iPad with software issues. A car with a few dents and scratches. These are all items that you may see listed for sale “as is” on sites like Facebook Marketplace or Craigslist. With the addition of “as is,” the seller sends shoppers a message: Hey, you can buy this thing, and here’s the price I’m asking for.

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Realty Biz

FEBRUARY 25, 2021

The average home inspection can cost from $300 to $500 depending on where the home is and how big it is, but Porch.com’s study indicates that this is an investment that will save the average buyer around $14,000 in renovation costs. Redfin said last year that almost 20% of the offers submitted by its agents waived the inspection contingency.

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HomeLight

DECEMBER 29, 2023

As a homebuyer entering a competitive real estate market, it’s likely you’ll encounter the term “non-contingent offer.” A non-contingent offer is often seen as a bold move in residential real estate transactions, signifying an offer to buy a property without certain conditions or “ contingencies ” that must be met first.

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HomeLight

DECEMBER 30, 2023

What buyer contingencies might put a listing back on the market? While under contract, there are typically contingencies in the buyer’s offer that need to be resolved before the sale moves forward. Searching for a home to buy can be a time of excitement and anxiety. Can you make an offer on a home that’s under contract?

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Norada Real Estate

APRIL 15, 2023

Purpose of Under Contract The purpose of the under-contract period is to allow both parties to fulfill any contingencies and prepare for closing. However, the duration can be influenced by several factors, such as contingencies, negotiations, and local regulations. But how long can a house be under contract?

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HomeLight

JANUARY 12, 2024

Whether you’re just starting to explore the housing market or are in the midst of deciding whether to remove a loan contingency from an existing offer, this guide is tailored for you. We’ll also share how, as an existing homeowner, you can make a stronger non-contingent offer to get the home you want. What is a loan contingency?

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HomeLight

AUGUST 28, 2023

You’re finally under contract on your dream home, and you’re ready to schedule the home inspection. The inspection is an essential piece of the homebuying puzzle, as it gives you an objective view into the condition of your new home. But, it also can also be an intimidating and stressful step. Find Agent What is a home inspector?

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HomeLight

JANUARY 3, 2024

It means the buyer and seller have agreed to the terms of the contract, such as the price, the closing date, the personal property, the earnest money, tax preparation, and contingencies.” What contingencies might be attached to ‘under contract’ listings? Get Started What does ‘under contract’ mean?

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Realty Biz

FEBRUARY 25, 2022

These costs may not have been such a worry before, but with many buyers waiving the home inspection contingency with the housing market so competitive, they could be in for a big surprise, Wilson said. An unlucky 10% faced repair costs exceeding $5,000 in their first year. For example, furnaces usually last 15 to 20 years.

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Realty Biz

SEPTEMBER 23, 2020

But while waiving the property inspection always used to be about making an offer more enticing and stand out in a bidding war, these days that’s not always the reason why buyers are offering it. s largest markets waived the inspection contingency, for example.

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Realty Biz

MARCH 16, 2022

All-cash offers were found to be significantly more successful than other strategies that are commonly used in bidding wars, such as waiving the financing contingency or a pre-inspection. The second-most effective strategy was waiving the financing contingency, though it was a lot less so, as it only improved a buyer’s chances by 31%.

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Realty Biz

DECEMBER 31, 2020

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to askbrian@realtybiznews.com. Answer: Hello Bethanny. There is never a crystal ball but contemplating the near-term future is time well spent.

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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. Most buyers will have a home inspection contingency in their contract.

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Realty Biz

APRIL 20, 2022

Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause. Help From the Seller.

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RIS Media

AUGUST 31, 2021

According to the report, 27% of buyers bypassed appraisal and inspection contingencies in July. Even in a somewhat calmer market, a number of potential buyers are still choosing to waive appraisals and inspections.” Regional Breakdown: Northeast . MoM — Now 92.0 West. +1.9% ” — Lawrence Yun, NAR Chief Economist.

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HomeLight

SEPTEMBER 9, 2020

You’ll also avoid the additional expense of mortgage insurance , and you’ll save thousands (often tens of thousands) of dollars on interest; the average homeowner can easily pay over $100,000 in interest over the life of a 30 year mortgage. Buying a house with cash is a process, though, and it doesn’t always make sense. Get the cash together.

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Realtor.com

JANUARY 4, 2023

Inventory levels are still low, but there are more homes coming on the market; the bidding wars and mind-boggling offers over the asking price have died down; and buyers can once again insist on inspections, contingencies, and repairs before the deal closes. Realtor.com / Getty Images Q: Is 2023 the year to finally buy a home?

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HomeLight

NOVEMBER 29, 2021

But first, you have to sell your old home, potentially secure financing, and secure a home appraisal (and likely an inspection) on your new house. Most purchase agreements have some terms in place that must be met for the deal to go through, such as having a home inspection completed. Do contingencies benefit homebuyers?

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RIS Media

MAY 19, 2021

” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Pending Meaning.

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Windemere Buying

APRIL 12, 2023

Home Inspector The home inspection is key to the home buying process. Buyers will often include a home inspection contingency in their offer to allow for renegotiation or canceling the contract entirely. It takes a village to purchase a home. Here are ten important people to keep in mind during the process of buying a home.

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Realty Biz

OCTOBER 12, 2021

Another big danger associated with maintenance costs is that it has become increasingly more common for buyers to waive the home inspection contingency to try and get their offer accepted. According to the NAR, 23% of buyers waived inspections in August. Doing so can lead to expensive, unexpected repairs later.

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RIS Media

AUGUST 5, 2021

A buyer who is interested in a property typically visits it in person to inspect its layout, features and condition. Before buying any house, you should have it inspected so you know if it has major problems, such as a cracked foundation or a leaky roof. A home inspection is even more critical when buying a property sight unseen. .

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Realty Biz

JULY 7, 2021

You can include a contingency for almost anything but the more conditions that the seller must meet the less likely the seller is to accept your offer. One contingency that is almost always wise to include is a home inspection to be sure you aren’t buying a major problem that you aren’t aware of. Include an escalation clause.

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Realty Biz

DECEMBER 5, 2022

One of the most vital phases of buying a house is having it inspected. Home inspections over the last few years were few and far between. The crazy hot seller's market forced many home buyers into forgoing their inspection. Let's look at what you need to know about home inspection negotiations.

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Realty Biz

SEPTEMBER 2, 2021

These contingencies are put in place to protect the buyer’s interests. For instance, financing contingencies and inspection contingencies can impact the timeline, certainty, and complexity of the sale. When you begin the process of selling your home, anticipating obstacles before they arise is vital.

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