HomeLight

JANUARY 3, 2024

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” We analyze over 27 million transactions and thousands of reviews to determine which agent is best for you based on your needs. Get Started What does ‘under contract’ mean?

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 99

Realty Biz

AUGUST 22, 2022

I didn’t even include an inspection contingency. In a few short weeks, the market has gotten much softer in this neighborhood and I’m not even sure the house will appraise for my purchase offer. The more prices slump, the more likely the house will not appraise for the amount of your purchase offer.

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Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 96

HomeLight

DECEMBER 30, 2023

You may be building an online watchlist of homes you’re interested in seeing, but then you notice a label tagging your favorite property listing as “under contract” or “sale pending.” What buyer contingencies might put a listing back on the market? If contingencies are not met, the deal might fall through.

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Home sale contingency Purchase and sale agreement Inspection contingency Inspection 101

Realty Biz

FEBRUARY 20, 2021

Many buyers and sellers are not well educated about the intricacy of some real estate contingency clauses. Given they are significant legal terms in a purchase and sale, it is essential to have a strong working knowledge of how they work. Most buyers will have a home inspection contingency in their contract.

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Purchase and sale agreement Inspection contingency Earnest money deposit Home sale contingency 136

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. Most purchase agreements have some terms in place that must be met for the deal to go through, such as having a home inspection completed.

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Realty Biz

APRIL 20, 2022

What to Know About Terms and Conditions Found in an Offer to Purchase. It will state your offer price and many other clauses that could be crucial to the success of the purchase. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. Mortgage Financing Clause. Help From the Seller.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 106

HomeLight

SEPTEMBER 30, 2020

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender. Short sales 101.

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Realty Biz

JANUARY 9, 2024

From preparing your home for sale to negotiating offers, these tips will ensure a successful sale. Sometimes it stops their sale dead in its tracks until the errors are corrected. Understand the current market conditions, including recent sales, average time on the market, and pricing trends. It matters.

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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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Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? Imagine being a buyer who’s getting ready to close the deal and realizes thousands of extra dollars in closing costs have been tacked on to the final price of the home sale. You are certainly not alone. In some areas of the U.S.,

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Seller concession Closing costs Purchase and sale agreement Inspection contingency 72

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.” Contingent vs. .” Contingent Meaning.

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

HomeLight

MARCH 31, 2022

To succeed in getting a seller to consider your offer, you need to work in advance with your real estate agent to assess the best bargaining tools to entice the seller to move your offer to the top of the list. What is a contingency clause? Let’s begin by looking at the “what” and “why” of contingency clauses.

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HomeLight

JANUARY 3, 2023

Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. 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.

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HomeLight

MARCH 17, 2021

There’s still a major hurdle to overcome in your homebuying process: the home inspection. And to follow along, you’re going to want a home inspection checklist specific to you as a buyer. A home inspection is much more than a mere formality. Get Your Home Inspection Checklist! What is a home inspection?

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HomeLight

APRIL 28, 2023

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. Unsure about selling FSBO in Texas?

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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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HomeLight

JANUARY 10, 2023

With such impressive sales figures, some sellers may be curious about how to sell a house by owner in California — a decision that could help them save on agent commissions. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Can FSBO sellers post a yard sign?

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Point2Homes

DECEMBER 8, 2020

But, what does contingent mean and how does it affect your purchase? A home listed as contingent means the seller has accepted an offer. However, before the sale can go to closing, certain contingencies must be met. Contingent Statuses. A backup offer is not uncommon in real estate sales. No Showings.

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HomeLight

JUNE 21, 2022

But you’ll still have to get over the home inspection hurdle that could reveal issues requiring repairs or cause buyers to renegotiate a lower sales price or even walk away from the deal. It’s critical to know what home inspectors look for because serious problems could derail the sale altogether. What is a home inspection?

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Inspection Purchase and sale agreement Pre-approval Inspection contingency 120

Windemere Selling

MARCH 14, 2022

Common Real Estate Contingencies Home Inspection Contingency A home inspection contingency allows the buyer to have the home professionally inspected within a certain window of time. If the buyer finds outstanding repairs that need to be made, they can negotiate them into their offer.

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Purchase and sale agreement Home sale contingency Inspection contingency Pre-approval 52

HomeLight

DECEMBER 31, 2020

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process. What does “sale pending” mean?

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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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Agents Purchase and sale agreement Inspection MLS 96

HomeLight

MARCH 31, 2022

Early 2022 data from Florida Realtors® indicates a 23% increase in median sales price and a 33.3% With such impressive sales figures, some Florida sellers may be curious about how to sell a house by owner in Florida — a decision that could help them save on agent commissions. drop in median time on the market. Get Started.

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Purchase and sale agreement Inspection Title MLS 90

HomeLight

JULY 31, 2020

Real estate purchases made entirely with cash are rumored to create big benefits for homebuyers. 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. Image Source: (Shutterstock.com/Andy Dean Photography).

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Windemere Buying

JUNE 22, 2022

You’ve applied for financing , worked with your agent to search for available listings, put in time attending open houses, and have found the place you’re ready to call home. The seller rejects your offer: If a seller rejects your offer, your agent may be able to relay information from the listing agent as to why it was insufficient.

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Purchase and sale agreement Inspection contingency Seller concession Backup offer 52

First Team Real Estate

AUGUST 8, 2021

Home sales are moving quickly today because of limited inventory, causing lucky home sellers to see an increase in multiple bids or bidding wars. The only way around re-listing is to accept backup offers, so during the planning phase of your home sale, talk to your listing agent about the pros and cons of backup offers.

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HomeLight

MARCH 31, 2022

price increase , pushing median sale prices to upward of $350,000. With such impressive sales figures, some sellers may be curious about how to sell a house by owner in Arizona — a decision that could help them save on agent commissions. Median sales price: $449,900 (Feb. 2022 , a 28.5% increase from the year.

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Realty Biz

AUGUST 2, 2023

In my experience as a real estate agent over the last thirty-plus years, many homeowners will search " sell my house fast " for the best-selling strategy. Working with a knowledgeable real estate agent is crucial in navigating the home showing and negotiation. Overcoming common challenges is also vital.

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Redfin

JANUARY 25, 2021

Though you can technically add any contingency you want to an offer, here are the 9 most common homebuying contingencies to consider. 1) Home inspection contingency. As the buyer you should always order a home inspection. 2) Appraisal contingency. 3) Financing contingency. 4) Home sale contingency.

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Purchase and sale agreement Home sale contingency Inspection contingency Title 79

HomeLight

NOVEMBER 9, 2021

During a seller’s market like the one, we had in the summer of 2021, a top real estate agent could help you find a buyer for your home in as few as 75 days from listing to closing. If you need to move even more swiftly than that, selling to an online direct buyer through a platform like HomeLight’s Simple Sale could take as little as 10 days.

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Purchase and sale agreement Home sale contingency Title search Inspection 85

HomeLight

AUGUST 30, 2021

For the right would-be buyer, a rent-to-own arrangement can be an ideal path to invest in a future home purchase — a time to save money and improve credit, or wait for an expected shift in circumstances, while living in a home that will one day be yours. Further, take time to learn more about this type of purchase.

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Purchase and sale agreement Inspection Inspection contingency Closing costs 91

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. In the February 2020 Realtors Confidence Index survey by the National Association of Realtors, 77% of real estate agents responded that contracts closed on time, and 19% reported delays but eventually closed; 4% of contracts were terminated. The appraisal is lower than the purchase price.

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Closing Purchase and sale agreement Title search Earnest money deposit 110

HomeLight

APRIL 29, 2021

The home sale process involves a long list of steps, and your execution of each impacts your final sale price. As with most things in life, preparation is the key to a successful home sale. With 24 years of experience under his belt, Thompson shared a few gems about navigating the home sale journey.

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Redfin

MARCH 2, 2023

Regardless of your experience, navigating the housing market can be daunting, especially when it comes to understanding the complex jargon and legalities involved in purchasing a property. One important concept that all homebuyers should be familiar with though is the appraisal contingency. What is a contingent offer?

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Purchase and sale agreement Earnest money deposit Finance Inspection 55

HomeLight

SEPTEMBER 30, 2021

Reading home sale contracts can often feel like learning an entirely new language. If you’ve never purchased a home before, the terminology and legalese can be confusing and overwhelming. In its simplest definition, a kick-out clause is a type of contingency. How a kick-out clause works in a home sale.

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Purchase and sale agreement Home sale contingency Inspection contingency Sales 91

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. Real estate agent commissions.

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HomeLight

AUGUST 27, 2021

Or if the inspector uncovers a mold-related issue during the inspection? Mold is everywhere all the time,” says Adam Rutledge , a top real estate agent in Medford, Oregon , who sells homes 68% quicker than the average agent in the area. And can you even sell a house with mold ? When in doubt, just let it all out.

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