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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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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HomeLight

AUGUST 31, 2021

Jason Bragg , a top-selling agent in North Carolina’s Winston-Salem area, reports that cash offers are especially common in 2021 among buyers who are downsizing. Cash buyers have the option of taking these same steps for appraisals and inspections, but they aren’t required to so to appease a lender. There’s no financing contingency.

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HomeLight

JANUARY 13, 2022

You’re getting ready to call your agent to schedule a showing when you notice that the listing says the property is “active contingent.”. What on earth does active contingent mean? If a contingency isn’t met, then buyers can back out of a deal without any repercussions and they can get their earnest money back.

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HomeLight

NOVEMBER 29, 2021

For insight on what it takes to sell a home without a Realtor® , we spoke with Texas real estate agent Stephanie Nash. Not only has she sold 100% of her past listings, but the properties sell 46% quicker than the average agent in her area. In some cases, agents arrange for staging on your behalf. Prepare your home for sale.

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HomeLight

MARCH 23, 2022

In the words of Leslie Peterson , a top agent in San Francisco , California: “It’s just a crazy market right now.”. Real Estate Agent. Real Estate Agent at Leslie Peterson Group | Evolve Real Estate. Choose a top agent. Peterson sees firsthand how a proactive agent can assist their buyers. Peterson is right.

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