Realty Biz

NOVEMBER 11, 2020

When a home sale is listed as contingent, it means that the seller has accepted an offer with contingencies. This means that certain clauses have to be completed, by perhaps both buyer and the seller, for the sale to close. They will also get their earnest money deposit back , and the home will go back on the market.

Backup offer 111

Backup offer Sales Home sale contingency Earnest money deposit 111

HomeLight

SEPTEMBER 16, 2022

The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. The earnest money and the option fee are credited to you at closing,” explains Bacak for buyers who move forward. How much is a typical option period fee? Is this refundable?

Option period 89

Option period Earnest money deposit Due diligence Inspection 89

RIS Media

MAY 19, 2021

However, this is just the start with many things to do before the status changes to “Closed.” The contingent label in a listing indicates that the seller has accepted the offer; however, certain things need to happen before things can move on. Financing or Mortgage Contingencies. Appraisal Contingencies.

Purchase and sale agreement 98

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

HomeLight

OCTOBER 20, 2020

In real estate, a “contingent” offer means that one or both parties have requested certain provisions before the deal closes. If you’ve accepted an offer that is contingent on a home sale and you have added a kick-out clause, your home should be listed with a status such as “Contingent With Kickout. It’s not instant.

Backup offer 57

Backup offer Purchase and sale agreement Earnest money deposit Home sale contingency 57

HomeLight

JUNE 29, 2022

Whether it’s dealing with price negotiations or determining a timeline for closing and moving out of the property, you’ll want to step into the process already knowing your objectives and what to expect from prospective buyers. Price your house right to attract competitive offers. Require a sizable earnest money deposit.

Earnest money deposit 97

Earnest money deposit Purchase and sale agreement Closing costs Closing 97

HomeLight

MARCH 20, 2023

Financing Contingency: If the buyer’s mortgage proceedings fall through, they can walk away from the home. They’ve accepted an offer and set a closing date, thus their current home sale just needs to be “settled” in order for the purchase of the new home to go through. Will a seller accept my home sale contingency offer?

Home sale contingency 94

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 94