HomeLight

JANUARY 12, 2024

If you’ve been shopping for a home, you’ve likely come across the term “loan contingency,” and you may be considering including this clause in your purchase offer. Or perhaps you’ve already made a loan-contingent offer, and you’re wondering about contingency removal. What is a loan contingency?

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Loan contingency Loans Earnest money deposit Inspection contingency 103

HomeLight

JANUARY 31, 2024

Contingencies are designed to protect both parties involved, allowing the buyer to back out of the purchase without penalty under specific circumstances, such as issues discovered during a home inspection or difficulties obtaining financing. The most extended periods typically relate to mortgage and home sale contingencies.

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Purchase and sale agreement Inspection contingency Home sale contingency Inspection 104

HomeLight

NOVEMBER 29, 2021

If you follow interior design trends, you may want to stage and style your home yourself. Selling solo: Design and print home flyers and a front yard sign letting everyone know. When reviewing an incoming offer, you’ll take into consideration the overall offer terms, such as: the buyer’s ability to qualify for a home loan.

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Purchase and sale agreement MLS Inspection Agents 88

HomeLight

AUGUST 23, 2022

Consider a pre-listing inspection. A pre-listing home inspection is the same as a standard home inspection except that the seller pays for it before listing their home on the market. Some buyers may even make a cash offer with no loan contingency, but then may end up getting a mortgage.

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As-is Investor Closing costs Inspection 100