HomeLight

JANUARY 31, 2024

In real estate, when a house is listed as “ contingent ,” it means the sale of the property is conditional upon certain criteria being met. These conditions, or contingencies, are agreed upon by the buyer and seller during the negotiation phase. The most extended periods typically relate to mortgage and home sale contingencies.

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Windemere Selling

JANUARY 19, 2022

The closing process in a real estate transaction finalizes the terms of an agreement between the buyer and seller, leading to the transfer of the property’s title. Before a buyer can hold the keys to their new home, and before a seller can celebrate the sale of their property, closing costs must be paid.

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Realty Biz

MARCH 19, 2021

Homeowners who’re looking to secure a quick sale might want to take it upon themselves to do a pre-listing home inspection with the aim of speeding up the sales process. Pre-listing inspections are being advised by some real estate agents to help clients accelerate transactions and avoid last minute negotiations over repair costs. “If

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HomeLight

DECEMBER 30, 2023

Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want. Sellers are often wary of this clause. Can I make an offer on an ‘under contract’ home?

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Home sale contingency Purchase and sale agreement Inspection contingency Inspection 105

HomeLight

SEPTEMBER 30, 2020

These properties are typically sold as-is, without the option to negotiate repairs, and as the buyer, you’re unlikely to get the seller and their lender to agree to cover your closing costs. If you’re interested in a short sale opportunity, get a better idea of what you’re in for and what closing costs you can get covered.

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HomeLight

OCTOBER 29, 2021

You still have to make it through the house closing process, where inspections , credit problems, or paperwork issues can trip you up. The closing process fills several weeks as you navigate through multiple steps to make it to the closing table. How long does the house closing process take?

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HomeLight

JULY 31, 2020

Closing on a house seems pretty straightforward. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. While seamless closings are ideal for everyone involved, they almost never happen unless the buyer is paying cash on the home, and even then there can be a roadblock or two.

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HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. To top it off, buyers sometimes ask sellers to pitch in for their closing costs, too — another 2% to 3% of the sales price. Property inspections. Typical seller closing costs.

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HomeLight

JANUARY 3, 2024

Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want. Kaczor , a top-selling agent from Illinois with 30 years of experience. “It

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 103

HomeLight

AUGUST 28, 2023

The majority of home contracts are contingent on the results of the inspection, with the inspection contingency only being waived on 20% of contracts in Q2 2023, according to HomeLight’s recent survey. Find Agent What is a home inspector? “The It also can provide you with some much-needed peace of mind.

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HomeLight

AUGUST 25, 2020

home was on the market for an average of 24 days , with Ellie May estimating an average of 46 days to close on a purchase loan. That’s 70 days — or a little over two months — from listing to closing. Every house, every market, and every individual sale will vary in terms of days on market and closing timelines.

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Norada Real Estate

APRIL 15, 2023

The length of time a house can be under contract can vary, but understanding the contingencies and obligations during this period can help both parties prepare for a successful closing. Purpose of Under Contract The purpose of the under-contract period is to allow both parties to fulfill any contingencies and prepare for closing.

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HomeLight

APRIL 29, 2021

You’ll need to subtract your closing costs to determine how much money you’ll walk away with after the sale. So, what are closing costs in Delaware? In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs. Loan payoff includes the remaining principal and interest owed up until closing.

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Closing costs Closing Seller concession Homeowner’s association 61

HomeLight

DECEMBER 31, 2020

Not only will you need to be packing, cleaning, and getting the house ready for your buyer, there’s also a lot of waiting and hoping that all of the moving pieces fall into place and your home sale closes on time, if you make it to closing at all. You’re locked into the contract once you sign.

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Redfin

AUGUST 4, 2021

Keeping track of the differences between a listing agent, selling agent, seller’s agent, and even buyer’s agent can be a bit challenging, so learning to quickly recognize what these terms refer to in real estate can help you move forward confidently with buying or selling your home. What is a listing agent?

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HomeLight

MARCH 23, 2021

You may wonder, what does a real estate agent even do? According to the National Association of Realtors®, 88% of homebuyers purchased their home in 2020 through a real estate agent , and for good reason. Real estate agents are essential advocates through the homebuying process. What is a real estate agent?

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Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? Closing cost incentives Closing cost incentives can include owner’s and lender’s fees, escrow or settlement fees, transfer taxes and government recording fees. You are certainly not alone. In some areas of the U.S.,

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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. Closing Date. Final Thoughts.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 121

Windemere Buying

APRIL 12, 2023

Real Estate Agent You’ll be represented by a buyer’s agent throughout the home buying process. They will be by your side from day one, through closing and beyond. When searching for a real estate agent, ask questions to gain an understanding of their professional expertise as well as their personality.

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Realty Biz

JANUARY 9, 2024

From experience, many potential sellers need the guidance of skilled agents. Working with an experienced real estate agent can significantly ease the selling process. The difference between having a good and lousy real estate agent is monumental. Never underestimate the importance of how your home stacks up to the competition.

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Realty Biz

MARCH 13, 2024

Get a comparative market analysis from your real estate agent to determine fair value pricing for the neighborhood. If waiving inspection contingencies, have the home pre-inspected so you enter informed on its condition. For minor fixes, request a credit at closing. Don’t get emotionally swept up and overpay.

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Realty Biz

SEPTEMBER 2, 2021

Since selling your home can be a lengthy process that involves choosing an agent, estimating costs, preparing your home , setting the price, and finally finding the right buyer, the consequences of a mistake along the way can have wide-ranging implications. . Choosing the Wrong Agent. Most agents’ commission is negotiable.

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HomeLight

FEBRUARY 14, 2024

From cash offers to working with top real estate agents, we’ll cover the essentials to help you confidently move forward. Receive your offer in as little as 24 hours and close in as few as 10 days. The buyer assesses your property’s condition and market value and then extends an offer.

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HomeLight

SEPTEMBER 9, 2020

The share of all-cash home buyers has declined since 2014 because, “money is cheap right now with low interest rates, so some people who could buy in cash opt to buy with a mortgage,” says Sherry Ludecker , a top-rated real estate agent in Johnson City, Tennessee. Choose a settlement agent. Get an inspection. Find your house.

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RIS Media

MAY 19, 2021

When your real estate agent puts your home in the multiple listing service, it will have an “Active” status. However, this is just the start with many things to do before the status changes to “Closed.” It shows that the contract has been agreed upon, but some work still needs to be done before closing.

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

Realty Biz

JULY 7, 2021

It’s the preapproval letter that tells the seller that you’re serious about buying their home and highly likely to close the deal. There may be rare local circumstances where this will work but it should only be based on the advice of a trusted real estate agent. Require a minimal home inspection.

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HomeLight

OCTOBER 30, 2020

As for whether you can sell a house as is without inspection — the answer is yes, it’s possible and does happen. And for sellers of distressed homes or inherited property, it can be an appropriate strategy to facilitate a streamlined closing. However, a buyer could still include an inspection contingency in the contract.

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Realty Biz

MARCH 16, 2022

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%. Another tactic that helped in bidding wars was pre-inspection, which improved a buyer’s chances by 25%. So, in other words, it’s probably better not to make such an offer. “If

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The Close

FEBRUARY 6, 2024

I contacted the listing agent only to learn that all offers were due by 5:00 p.m. Offer Above Asking Price When your buyers are competing with others in a multiple-offer situation, and the listing agent is asking for the “highest and best” offer, it’s a good idea to suggest offering more than the asking price.

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Redfin

MARCH 30, 2021

All you want to do is move in, but first, you have a lot to schedule and arrange, and you’re wondering just how long it will take to close on your new home. Closing on a home typically takes 30-60 days, with several steps that need to be taken in order for a swift and smooth closing process. Plan ahead for the big picture.

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Realty Biz

DECEMBER 5, 2022

Let's look at what you need to know about home inspection negotiations. How to Negotiate Problems Found at a House Inspection. What Will Happen After a Home Inspection? The home inspection contingency in a real estate contract allows the buyer to back out of the sale when there are issues.

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Realty Biz

DECEMBER 31, 2020

You must have your financing preapproved and be working with a lender that will close the deal quickly. Sellers will look at the price offer but they will also look to see whether one buyer has an easier path toward closing than the other competitive offers. You should think long and hard before waving the inspection contingency.

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HomeLight

JUNE 29, 2021

Your sale is more likely to close and close faster with a cash offer than with an offer that hinges on a mortgage approval. A cash offer won’t always be the best deal,” says Enas Latif , a top real estate agent who sells homes 62% quicker than the average Harris Hill, New York agent. Financing contingency.

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HomeLight

JULY 31, 2020

With the help of Brad Graves , a top real estate agent in San Antonio, Texas , and some recent national home purchase data, we’ll examine the pros and cons of all-cash offers. This is important: if your real estate agent puts in an all-cash offer on your behalf, they will not include a financing contingency.

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Purchase and sale agreement Inspection contingency Proof of funds Finance 98

Point2Homes

DECEMBER 23, 2021

An escrow agent will oversee this account, releasing the funds to go toward paying for the home if everything goes according to plan. Most likely, the buyer will then be expected to make an earnest money deposit fairly quickly, which will go into an escrow account until closing. What Happens with Escrow at Closing?

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HomeLight

JANUARY 3, 2023

Sellers who may have been wondering about how to sell a house by owner in Colorado during the hot seller’s market of 2021-2022 may now face stronger headwinds and more discerning buyers, according to top real estate agents surveyed by HomeLight. Real estate attorneys are not considered essential for closing in Colorado.

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HomeLight

APRIL 28, 2023

Often, the decision to go for sale by owner (or “FSBO”) is motivated by a desire to save on agent commissions. We’ll also provide a comprehensive overview on the full process to prep, market, and close on your home without the assistance of a real estate agent. That 6% is deducted from the seller’s proceeds at closing.

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