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What Does Contingent Mean in Real Estate?

HomeLight

The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. If you refuse and you can’t come to an agreement, they’re free to walk away.

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How Fast Can I Sell My House? It Can Take 75 Days or 12

HomeLight

The recent housing market has been hot and competitive due to an extreme lack of inventory. For a seller in a hurry, the shortage of homes means you can anticipate fewer days on market (DOM). How it might take 12-75 days to sell your home. What do days on market mean? Direct Buyer (Simple Sale).

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. Make sure clients who see an acceleration clause in their mortgage contracts understand that this allows their lender to demand repayment of the loan in full if they default on the loan. 4 Loan Questions Worth Asking.

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How Does an Appraisal Gap Coverage Clause Work

Realty Biz

In the current real estate market, many property buyers choose to finance their purchases. However, with the current market heavily favoring sellers, quite a few buyers who would otherwise be taking out a mortgage are paying cash. Doing so will satisfy the lender and allow the sale to proceed. How Does the Appraisal Work.

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How to Sell a House by Owner in Colorado

HomeLight

Higher interest rates have been cooling the housing market nationwide, and real estate in Colorado is no exception. Inventory is starting to rise along with the average number of days on market as of September 2022. Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%.

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Moving for the Military? Your Guide to Selling a House Under PCS Pressure

HomeLight

When hiring an agent, military sellers should focus on a key stat in the agent’s track record: days on market (DOM). Every city has an average days on market which refers to how quickly properties go from active to under contract (i.e., Keep in mind, days on market is not the total time it takes to sell a home.

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How to Sell a House by Owner in Texas

HomeLight

When the time comes to move, some tenacious homeowners in Texas are eager to take over the reins of their home sale and figure out how to sell a house by owner. Often, the decision to go for sale by owner (or “FSBO”) is motivated by a desire to save on agent commissions. That 6% is deducted from the seller’s proceeds at closing.