Waiving the Appraisal Contingency


If you find a hot buy that is likely to have multiple offers, you will be confronting the uneasy choice of waiving the appraisal contingency in your offer. If the appraisal comes […].

‘A slippery slope’: 14 pros weigh in on biggest contract mistakes


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Cash offer startup Ribbon launches appraisal protection service


The company will now cover the difference for under-appraised homes purchased through its RibbonCash Offers service in all five of its markets. Select Technology appraisal Appraisal contingencies appraisal delays fintech startup ribbon shaival shah

3 Ways Today’s Insane Seller’s Market Is Actually Bad for Home Sellers—and How To Survive It


Sell appraisals contingencies home offers home selling multiple offers negotiating offers seller's market selling a homeIn today's seller's market, desperate homebuyers will do just about anything to buy your home. This is good news for sellers, but does come with risks. The post 3 Ways Today’s Insane Seller’s Market Is Actually Bad for Home Sellers—and How To Survive It appeared first on Real Estate News & Insights | realtor.com®.

The New Normal: What if sellers become complacent?


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7 realities your buyers and sellers should prepare for in 2021


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10 pandemic-tested truths about homebuying


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An inside look at local housing markets across the country

Housing Wire

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Buyers “are waiving inspections, an appraisal contingency, and the latest trend is to pay closing costs usually done by the seller.”

What is a home appraisal gap?

Housing Wire

When you go to buy a home , your mortgage lender will almost always order a home appraisal. Scenario 1: Your home appraises at your full offer price. Many times, the home appraisal goes off without a hitch. Scenario 2: Your home appraisal comes in low.

Competing in the sizzling housing market of Provo, Utah

Housing Wire

Nestled between Utah Lake and the towering peaks of the Wasatch Mountain Range, it is hard to imagine that anything in the Provo-Orem metropolitan area could be anything other than serene. But for the past 12 months, the metro’s housing market has been in complete chaos. “It

12% of home sales fall through due to low appraisals

Realty Biz

But many have found that the tactic of making an aggressive bid to beat out other offers backfires, as the appraised value of the home falls well below the agreed price. So, once a bid has been accepted, the mortgage company will send an appraiser to go and value the home.

How much cash matters in a bidding war

Housing Wire

And waiving the financing contingency is the second-most effective bidding-war strategy, Redfin officials said – improving homebuyers’ odds of winning by 66%. When there’s a bidding war, cash is king.

20% of Winning Home Offers Waived the Inspection Contingency in June, Up From 13% Last Year


markets waived the inspection contingency, compared with just 13.2% Winning offers waived the appraisal contingency at a similar rate—20.6%—up The inspection contingency allows the buyer to cancel a purchase or request repairs if they find an issue during the inspection period.

Buyers are sweetening the deal by waiving contingencies

Realty Biz

With home buyers facing tougher competition this year amid ongoing housing shortages, some are trying to gain an edge by waiving contingencies to make their offers look more enticing. markets waived the inspection contingency , compared to just 13.2%

Your Ultimate Home Appraisal Checklist for Homebuyers


Typically, when we talk about keeping track of a home appraisal , the seller has more ability to stay on top of what’s happening. There are countless tips for sellers on prepping for an appraisal, what to expect during the appraisal , and even a seller’s home appraisal checklist !

Pros and Cons of Removing Contingencies Early

RIS Media

So should your clients submit an offer with no contingencies to maintain an edge over competing offers? Here’s a look at the pros and cons of removing contingencies early: Pros. The post Pros and Cons of Removing Contingencies Early appeared first on RISMedia.

How agents are winning bidding wars in America’s most competitive markets

Housing Wire

and I counseled my client to bid accordingly, waive his mortgage contingency, then we bid $1.45 Another critical element, according to agents, is not to make the deals contingent upon things like inspections and not to “nickel and dime” the seller.

The Most Common Home Buying Real Estate Contingencies

Realty Biz

Contingencies in Real Estate Explained. Do you know what a real estate contingency is and how it works? Real Estate contingencies are when some defined action or outcome must occur before a contract becomes legal and binding. Home Buying Contingencies Explained.

Consider Appraisal Gap Coverage to Have the Edge in a Red-Hot Market

The Living Room

But when offering above the asking price on a property, there is a chance that it may be more than what the bank appraises the home for. This is a great tool to help an offer stand out in a competitive market, but it should not be confused with an appraisal contingency.


The Living Room

With the offers rolling in over our first weekend on the market and the values skyrocketing above objective comparison, appraisal contingencies and financing terms became incredibly important. As the new year set in, it became clear that a perfect storm was forming.

Why Making a High Offer to Beat Out the Competition Can Backfire

RIS Media

Appraisal Problems. The amount a lender will loan you is based on the appraised value of a house. If you agree to a sale price that’s less than the appraised value, you’ll have to pay the difference out of pocket.

The Top 9 Contingencies to Consider in Your Offer When Buying a Home


Before you do, take time to consider all the potential risks and home-buying contingencies that will help protect you as a buyer. Though you can technically add any contingency you want to an offer, here are the 9 most common homebuying contingencies to consider.

I Want to Buy a House in 2021. How Much Should I Offer Over the Asking Price?


And that means that buyer with a firm $300,000 budget may in fact be priced out of a home at the exact list price… one that’s destined to get 12 contingency-free offers and sell for $325,000. Can you eliminate contingencies ? Be prepared for a possible low appraisal.

What Do Home Appraisers Look for In a House to Determine Its Value?


Some very important steps to the home buying process are just ahead, and one of those is the home appraisal. Read on to learn exactly what home appraisers look for in determining the value of a house. What are home appraisals used for? Do Appraisers Look in Closets?

What Is a Contract Contingency When Buying a Home


A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. These criteria, or contingencies, are clauses in a sales contract that typically fall under three major categories: appraisal, home inspection, and mortgage approval. Home inspection contingent offer A home inspection contingency could well be the most important one for home buyers.

3 Keys to Getting Your Offer Accepted In a Hot Seller’s Market

The Living Room

2) Waive Contingencies: To make your offer more attractive, take out as many sticking points as you’re comfortable with. This means removing contingencies for a clean offer. A financing contingency : If you have the funds to make an all-cash offer, you can waive this contingency.

The Risk of Over-Pricing in Today’s Luxury Real Estate Market

Luxury Real Estate Blog

Frequently financing and appraisal contingencies may be struck out of today’s contract. A property that does not appraise by a wide margin may STIGMATIZE the sale. Courtesy of Julie Jones-Bernard of Florida Luxurious Properties.

SOLD! Bright + Cheery Ranchalow in Brentwood Darlington!

The Living Room

This second time around went easy-breezy, and we moved quickly to remove the inspection and appraisal contingencies. Congrats to the Sellers at 6927 SE 78th! We had 8 FANTASTIC offers, and honestly, my clients would have been happy accepting any one of them.

Listing Agents Are Getting a Little Whacky in the Burbs

The Living Room

Can you have them waive their appraisal contingency and release their earnest money up front. Chris has been showing a whole bunch of homes outside of PDX lately – in the cities of Hillsboro, Beaverton, Tigard and West Linn.

3 Top Reasons Why Sellers Sue Buyers for Backing Out of Home Sales


Which contingencies you included in your contract with the seller. What are contract contingencies? So as a buyer, you should have a contingency in your contract to protect you in case you can’t get proper financing for the home. Financing contingency.

How Long Does an Appraisal Take and What to Expect?


Some of them, like the home inspection and obtaining the real estate appraisal, can be stressful. So, what should you expect with this next step in the appraisal process? And how long does an appraisal take? What is an appraisal, and why do I need one? Congratulations!

Redfin Agents Share the Most Unique Offers that Recently Won the Deal


The offer also included paying up to $2,000 of the seller’s moving expenses, giving the seller 60 days to lease back their home free of charge, buying most of their furniture, and waiving the appraisal altogether.” . A partial appraisal waiver sealed the deal in this real estate offer.

Tempted by a Cash Offer for Your Home? Dissect It With This Guide


Review the terms of the deal for contingencies. Cash offers typically come with fewer contingencies than conventional offers. Contingencies are conditions that must be met for a real estate contract to remain binding. Financing contingency. Appraisal contingency.

Buying a House Sight Unseen: Worth It or Not?


For example, the sale could be delayed due to the buyers’ request for inspections and appraisals. Protect Yourself with a Contingency Clause. Image: Alexander Raths / Shuttterstock.com. Buying a new home is always an exhilarating experience.

9 Warning Signs When Selling Your Home


Restrictive Contingency Clauses. Real estate transactions often feature contingency clauses that allow both parties to back out of the sale under the circumstances stipulated in the contract. One common type you’ll encounter is a sale and settlement contingency.