Redfin

JUNE 23, 2025

This timeframe grants the buyer permission to thoroughly inspect the property. It’s a crucial period to verify the property’s condition, ensure it meets expectations, and meet any financing requirements set by the lender. Some states have standard timeframes, so your agent can help you set the right terms.

Due diligence

Redfin

AUGUST 5, 2025

Here are the most common contingency clauses that a buyer may include in an offer to allow them to break their contract and walk away from the deal without losing their earnest money: Inspection contingency: This protects a buyer against purchasing a home that is revealed to be in poor condition or requires major repairs.

Earnest money deposit

Redfin

JULY 10, 2025

Whether earnest money is refundable depends on the contingencies in the purchase agreement. If the contract is canceled due to issues like a failed inspection or financing problems, the buyer typically gets the money back. However, if the buyer backs out for reasons not covered by a contingency, the seller may keep the funds.

Due diligence

Redfin

JUNE 27, 2025

Mortgage pre-approval serves several purposes: Determines how much you can afford to borrow Signals to agents and sellers that you’re more reliable Expedites the mortgage application process Locks in an interest rate for that specific period Here’s what to do instead: Take the time to get pre-approved by a lender before starting your home search.

Pre-approval

Redfin

JULY 16, 2025

Under contract stage: Once under contract , the primary buyer is locked in unless contingencies fail. These contingencies could include financing, inspection results, or the sale of the buyer’s existing home, giving them a legal “out” if certain conditions aren’t met. This arrangement benefits both parties.

Backup offer

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles Earnest Money and House Deposits Explained Kyle Hiscock Kyle Hiscock | Greater Rochester NY Real Estate | Pittsford NY Realtor at RE/MAX Realty Group Have questions about buying or selling a home?

Earnest money deposit

The Close

MARCH 11, 2025

This process involves multiple stages, starting with identifying an FSBO listing to securing appropriate financing and completing the closing procedures. Weve identified six steps for how to find for sale by owner homes, along with the advantages and disadvantages of navigating the FSBO process without a real estate agent involved.

Sales

Redfin

JULY 9, 2025

It’s also a good time to check your finances. Find a real estate agent Estimated time: 1-2 weeks A buyer’s agent is a licensed real estate agent who represents your best interests throughout the home buying journey. Ask for referrals from friends and family, read online reviews, and interview a few agents.

Pre-approval

Redfin

MARCH 4, 2025

From finding houses to tour and what financing options you have, theres a lot to learn about buying a home in foreclosure. If the auction accepts financing, make sure you have a pre-approval ready. Youll need to coordinate with your real estate agent in order to tour these properties.

Pre-approval

Redfin

JUNE 17, 2025

The steps of the due diligence period can include any of the following: Home inspection Pest inspection Appraisal Negotiation of closing costs Title search and title insurance Renegotiations (if applicable due to home inspection) During this period before settlement, the buyer and seller are able to continue negotiations.

Closing

Redfin

JUNE 17, 2025

There are several kinds of contingencies , ranging from home inspection to home sale, and it can be confusing to know what to expect when receiving a contingent offer. Working with a Redfin real estate agent can help distill this information down and make it a lot less confusing.

Inspection contingency

Rochester Real Estate

NOVEMBER 5, 2015

Are your finances ready to buy a home, or will you be better off renting for a few more years? Hiring a Real Estate Agent When buying a property, the right buyer’s agent will save you time and, perhaps more importantly, money. Making an Offer When you find a home you want to buy, your agent will help you with the offer.

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles Should I Waive My Home Inspection When Buying A House? They can be expensive to take care of, putting a huge hit on your finances.

Inspection

Redfin

JULY 21, 2025

If you’re having doubts, want to reassess your finances, or simply change your mind, doing so before any paperwork is signed allows for a clean exit without risking earnest money or triggering legal consequences. Common contingencies include: Financing contingency: Protects buyers if they can’t secure a mortgage loan.

Earnest money deposit

HomeLight

FEBRUARY 20, 2025

Youve just found your dream home and are finalizing your offer when your real estate agent calls with concerning news. To sweeten your offer, you may be considering waiving the appraisal contingency, promising not to walk away from the deal if the appraisal comes in below your offer price. What is a contingency?

Inspection contingency

Rochester Real Estate

NOVEMBER 5, 2015

When it comes to the length of a listing agreement, every real estate agent will have a different preferred length. Every state and contract has different terms but generally speaking, if you decide to cancel the listing agreement, you could possibly be responsible for any expenses incurred by the real estate agent and their brokerage.

Purchase and sale agreement

Housing Wire

SEPTEMBER 9, 2024

The new rules mandated by the National Association of Realtors’ (NAR) antitrust settlement are designed to encourage more negotiations for buyer agent commissions. That’s according to Redfin , which interviewed dozens of its agents about what they’re seeing on the ground in regard to buyer commission conversations.

Earnest money deposit

Keeping Current Matters

NOVEMBER 30, 2020

Listen to Your Real Estate Agent. Understand Your Finances. As soon as you find the right home for your needs, be prepared to work with your agent to submit an offer as quickly as possible. There are, however, certain contingencies you don’t want to forego. Make a Fair Offer. Bottom Line.

Inspection contingency

Keeping Current Matters

MARCH 15, 2021

Understand Your Finances. The expertise your agent brings to this part of the process will help you stay competitive: “Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”. Bottom Line.

Inspection contingency

Housing Wire

FEBRUARY 20, 2024

The bill essentially negates as a negotiating tool the waiving of the home inspection contingency , which makes an offer for a home contingent on the results of an inspection. Goodman offered some insights into the the home inspection business and individual inspectors via the following datapoints. and Canada.

Inspection

HomeLight

JUNE 9, 2023

So in this context, “contingent” is a bit like saying, “Hold on, we’re working things out!” ” Step one: Talk to a few buyer's agents! Get Started Are contingencies common in real estate? It’s also true that most real estate contracts, even those with contingencies, end up closing.

Home sale contingency

HomeLight

JANUARY 10, 2024

Most purchase agreements are contingent on two key items: home inspection and financing. As a homebuyer, knowing what these contingencies mean for you and the seller can help you make decisions with more confidence and avoid unexpected surprises and pitfalls. Get Started What does contingent mean when buying a home?

Earnest money deposit

Realtor.com

OCTOBER 29, 2020

Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. It’s rarely advisable to waive an inspection contingency. Get final mortgage approval.

Closing

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.

Purchase and sale agreement

HomeLight

OCTOBER 30, 2020

All-cash offers are beloved by sellers and real estate agents alike — and they’re more than three times as likely to be chosen from the pack. A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. Financing issues. But is the cash closing process always seamless?

Closing

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. If the buyer fails to secure financing, they can withdraw without losing their deposit.

Home sale contingency

Realty Biz

FEBRUARY 20, 2021

Home inspection: often called a due diligence contingency, will give the buyer rights to have the house inspected. Most buyers will have a home inspection contingency in their contract. Obtaining financing: allows the purchaser to get the funds to buy the property from a lender of their choice.

Purchase and sale agreement

HomeLight

JULY 31, 2022

One of the first steps is to pick a real estate agent to work with. But what if you decide that you don’t want to work with a buyer’s agent to buy your home? Well, welcome to your step-by-step guide to buying a home without a real estate agent. You’ve decided it’s time to buy a house ! Find a lender you can trust. Find a home.

Earnest money deposit

HomeLight

NOVEMBER 8, 2024

We’ll also share tips on how you can make a strong, non-contingent offer so you’re not stuck in the pending zone. 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.

Inspection contingency

HomeLight

NOVEMBER 29, 2021

But first, you have to sell your old home, potentially secure financing, and secure a home appraisal (and likely an inspection) on your new house. These are called contingencies, and they’re very common in a real estate sales contract. Financing contingency. This type of contingency can last between 30 and 90 days.

Purchase and sale agreement

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?

Agents

HomeLight

OCTOBER 30, 2020

The “as is” label signals that as the seller, you aren’t willing to negotiate on price no matter what comes up in the inspection. However, a buyer could still include an inspection contingency in the contract. Additionally, waiving the inspection contingency makes for a more compelling offer to most sellers.

Inspection

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

Purchase and sale agreement

HomeLight

JANUARY 12, 2024

We’ll also share how, as an existing homeowner, you can make a stronger non-contingent offer to get the home you want. 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.

Loan contingency

RIS Media

MAY 19, 2021

When your real estate agent puts your home in the multiple listing service, it will have an “Active” status. ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” Financing or Mortgage Contingencies.

Purchase and sale agreement

HomeLight

JANUARY 31, 2025

Although 20% of buyers waived inspection contingency , you may still be obligated to resolve certain issues, depending on your states and the buyers lenders policies. It takes just two minutes to match clients with the best real estate agents, who will help you be ready for your home inspection.

Inspection

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. Mortgage Financing Clause.

Purchase and sale agreement