Remove Backup offer Remove Due diligence Remove Loans Remove Pre-approval
article thumbnail

What to Do Before Offering on a Home

RIS Media

It may make sense to put in a backup offer when you’re not the winning bidder. Many buyers will put in offers on homes that are contingent just in case the home of their dreams comes back on the market. . Get pre-approved for a mortgage. The terms of the loan. This one is a biggie. Talk to neighbors.

article thumbnail

What Does Contingent Mean in Real Estate Sales

Realty Biz

If you follow all of the proper steps in selling a home , you will never have to worry about accepting an offer with a home sale clause. This contingency is often required by lenders to make sure the home is worth what the buyer has offered for it. In real estate jargon, this is referred to as a “backup offer.”