Housing Wire

APRIL 8, 2021

Outline your parameters, and where you can be flexible: Key points to consider communicating in an offer include the expiration date of your offer, any contingencies that may void your offer, and, of course, the purchase price you’re willing to pay for the home. Think of this as giving yourself the chance to compete.

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Realty Biz

MARCH 28, 2022

What it does say is “Contingent Offer.” A contingent sale just means that some details still need to be worked out. The home inspection and the appraisal are the most common. But it could be some other contingency that you put in your offer. Ask Brian is a weekly column by Real Estate Expert Brian Kline.

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As-is Purchase and sale agreement Debt-to-income ratio Sales 83

Housing Wire

DECEMBER 8, 2023

Guide them through escrow Once you’ve won the offer, help your clients through the contingencies, inspections, the appraisal process and the final walk-through. Ultimately, every homebuyer prospect, every contract and every negotiation is different, but your value should be consistent for all situations and clients.

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Proof of funds Inspection contingency Inspection MLS 427

Housing Wire

JUNE 4, 2021

The winning buyer also waived appraisal and financing contingencies and dropped off cupcakes that matched the interior colors of the house, which was a nice touch because the seller is an artist and the home is unique and colorful.” . “We received about a dozen offers, which is actually a low number by today’s standards.

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Marketing Finance Loan Officer Lending 492

HomeLight

FEBRUARY 6, 2024

You’ve been searching for a home to buy, and you come across a property you love only to see it’s labeled as “contingent.” ” or even, “Can you make an offer on a contingent house?” You can then make a strong offer on your next home with no home sale contingency.

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Inspection contingency Home sale contingency Inspection Finance 112

HomeLight

DECEMBER 30, 2023

What buyer contingencies might put a listing back on the market? What home contingency missteps should you avoid when making an offer? While under contract, there are typically contingencies in the buyer’s offer that need to be resolved before the sale moves forward. If contingencies are not met, the deal might fall through.

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Home sale contingency Purchase and sale agreement Inspection contingency Inspection 113

Housing Wire

OCTOBER 1, 2022

One way to understand the competitiveness of the market is to look at buyers who are waiving contingencies. There had been nearly one-third of buyers who waived an inspection or appraisal contingency, but the last month it fell to just over 20% for both. In comparison, in 2011, homes took 96 days to sell. . Historically 2.5

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Marketing Inspection Lending Sales 395

HomeLight

JUNE 9, 2023

But as your eyes scan the details of the listing, you come across a term that makes you pause: “Contingent.” ” So, what does contingent mean in real estate? A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet.

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

Realty Biz

OCTOBER 20, 2023

However, amidst the excitement of finding the perfect property, there's a crucial step that many homebuyers might overlook or not fully understand - the home appraisal. In this article, we will take a closer look at why homebuyers might need a home appraisal and how this process can play a pivotal role in the real estate transaction.

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Purchase and sale agreement Inspection Finance Loans 114

Housing Wire

MAY 10, 2021

Two primary programs are used to finance a home renovation : the 203K, which is administered by the FHA and covers the cost of the home plus the cost of the repair, and requires between 10% and 20% of the total loan amount be set aside as a contingency. Homeowners can also use it to access financing solutions through their contractor.

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Finance Renovation Loans Lending 383

Housing Wire

JULY 29, 2022

The dip in competition often allows homebuyers to make less risky offers that avoid waiving protections like home inspections and appraisal contingencies. San Francisco actually posted a home-price decrease of 0.5%, turning in a $1,581,000 median sale price for June. North Port, Florida, posted the highest growth in home prices, at 29.7%

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Inspection Sales Marketing As-is 462

Keeping Current Matters

OCTOBER 25, 2021

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. Home Appraisal. Bottom Line.

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Inspection Loans Mortgages As-is 246

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. What contingencies might be attached to ‘under contract’ listings? Get Started What does ‘under contract’ mean?

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 110

HomeLight

MARCH 28, 2024

When a home sale closing is delayed, it’s usually the buyer holding up the deal due to financing hiccups, low appraisals, title issues, or problems found during the final walkthrough. If there are contingencies around that, you live and die by the contingencies you’re obligated to. What happens on a home sale closing date?

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Closing Purchase and sale agreement Title Closing costs 111

RIS Media

APRIL 8, 2022

Once you find your dream home and it happens to be marked as contingent, you can still place an offer. Here’s all you should know about contingent sales as a potential home buyer. Contingent meaning. What about houses listed as “contingent? ” Many potential home buyers ask what contingent in real estate means.

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Debt-to-income ratio Title search Backup offer Home sale contingency 144

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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Earnest money deposit Inspection contingency Title search Inspection 98

HomeLight

MARCH 7, 2024

This comprehensive document details everything from the purchase price, down payment, and financing terms to contingencies, closing dates, and any specific conditions both parties must meet before the sale can be finalized. Buying a home is rarely done with casual disregard. What is a home purchase agreement?

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Purchase and sale agreement Earnest money deposit Option period Due diligence 112

Realtor.com

JULY 13, 2021

But some buyers in especially tight markets are taking even riskier measures to beat out competitors: They’re removing contingencies. Contingencies, in the world of real estate, are essentially conditions that must be met to finalize the sale of a home. Getty Images Buyers, we know it’s hard out there for you right now.

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Inspection Finance Lending Brokerage 136

Realty Biz

SEPTEMBER 11, 2023

During this stage, various contingencies, inspections, and other conditions may need to be met before the sale is finalized. During this stage, various contingencies, inspections, and other conditions may need to be met before the sale is finalized. Many sales will never make it to the closing due to various contingencies.

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Earnest money deposit Inspection Title Finance 109

Realty Biz

JULY 25, 2023

There may still be contingencies that need to be met, such as a home inspection or appraisal. If one of these contingencies is not met, then the sale can still be halted for the specific reasons set out in the contingency. Contingencies are conditions that must be met in order for the sale to go through.

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HomeLight

OCTOBER 24, 2023

Whether you’re a first-time seller or a seasoned pro, the appraisal process used to determine your home’s fair market value can be a little intimidating. Lenders require the appraisal to ensure they’re not loaning the buyer more money than the value of the home. All an appraiser is, is a glorified reporter.

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Renovation Agents Sales Banks 86

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. It does sound like the appraisal is key to answering that question. I’ll get into some common contingencies in a moment.

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

Realty Biz

DECEMBER 15, 2022

A Low Appraisal Can Torpedo the Sale. An appraisal is part of securing financing for the property. If it comes in low: The buyer can get a second appraisal. Even with a solid appraisal, financing is not guaranteed. Contingencies Must Be Met. The most common types of contingencies include: Sale of a buyer’s home.

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Purchase and sale agreement Inspection Title Closing costs 126

Realty Biz

FEBRUARY 20, 2021

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. What Are The Most Common Real Estate Contingencies.

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

Hank Miller Team

FEBRUARY 8, 2022

So what happens if the appraisal is below contract price? Appraisals below contract price will continue to be a challenge in 2022. Consider, appraisals this year will be using data from the already insane market of 2021 and many will still fall below contract.

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Due diligence Agents Loans Finance 98

Point2Homes

OCTOBER 20, 2021

Home appraisals are a vital part of most real estate transactions — and it doesn’t matter if you’re planning on selling your home or purchasing one first. Either way, you’re going to encounter a home appraisal contingency at some point. Note that a home appraisal and home inspection are not the same things.

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Earnest money deposit Loans Inspection Lending 145

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. What’s the point of a contingency, and how long can a contingency period last?

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Purchase and sale agreement Home sale contingency Inspection contingency Earnest money deposit 104

Point2Homes

DECEMBER 8, 2020

When searching for the ideal home, expect to encounter a few issues along the way, such as homes listed as contingent. But, what does contingent mean and how does it affect your purchase? A home listed as contingent means the seller has accepted an offer. How is Contingent Different from Pending? Contingent Statuses.

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Purchase and sale agreement Backup offer Home sale contingency Short sale 145

Realty Biz

NOVEMBER 10, 2021

Is Buying a Contingent Home Possible? It can take a long time to find your perfect home, but just when you think your search is over, you might discover that it is listed as a contingent house. So can you still offer on a contingent home, or have you missed the chance to buy your perfect property? Home Inspection Discoveries.

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Purchase and sale agreement Inspection Inspection contingency Finance 128

Realty Biz

JULY 11, 2022

The offer will spell out all of the common terms and conditions such as the offer amount, what you’re financing, any contingencies, and the closing date. One of the vital discussions you will probably have with your real estate agent is surrounding the real estate appraisal. Add or Waive an Appraisal Contingency.

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Earnest money deposit Purchase and sale agreement Marketing Equity 76

Realty Biz

JANUARY 9, 2024

If there is a wide spread on the value of your home from real estate agents, get a professional appraisal. If there is a wide spread on the value of your home from real estate agents, get a professional appraisal. Selling your first home can be an exciting yet overwhelming experience. It is no longer a robust seller's market.

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Purchase and sale agreement Earnest money deposit Title search Title 96

Realty Biz

SEPTEMBER 14, 2021

In some places, active under contract indicates that a contract has been signed but is contingent on certain conditions being met before the sale is finalized. In other locations, the sale may be referred to as being contingent in the multiple listing service (MLS). The seller has agreed to accept a contingent offer from the purchaser.

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Backup offer Purchase and sale agreement Inspection Sales 125

Realty Biz

JANUARY 4, 2024

One of the more researched topics in real estate is appraisals. Whether you are buying or selling a home, it is essential to have a firm grasp of home appraisals. From nearly forty years of experience as a Realtor, buyers and sellers should have at least a basic understanding of real estate appraisals and what they entail.

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FHA loan Construction Renovation Loans 100

Realty Biz

SEPTEMBER 19, 2022

Four months ago, we made the full-price offer with only a financing contingency, which is probably why the seller has been patient with us. Mainly that you signed a purchase offer for $345,000 and have been approved for a mortgage without any other contingencies. Ask Brian is a weekly column by Real Estate Expert Brian Kline.

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Purchase and sale agreement Finance Inspection Mortgages 97

Realty Biz

MARCH 27, 2022

Any proposal full of contingencies or seller concessions isn’t going to look as good. An offer contingent on you selling your home could easily lead to delays and isn’t be something that the seller will want to agree to if they have other options. Sellers are in the driver’s seat, and they know it.

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Purchase and sale agreement Earnest money deposit Seller concession Finance 117

Lighter Side of Real Estate

AUGUST 16, 2022

It wasn’t just about price; they also had to come in with as “clean” an offer as possible, which often meant waiving fairly standard contingencies. In case the term isn’t something you use in day to day life, a contingency is a clause in the contract that is in place to protect the buyer. Waiving a home inspection isn’t ideal.

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Inspection Inspection contingency Mortgages As-is 77

HomeLight

MARCH 31, 2022

But one of the most influential bargaining tools is eliminating contingency clauses, especially the seller contingency clause, also known as the home sale contingency. Eliminating this important contingency can be tricky, but it may be the only way to get your offer accepted in a competitive market.

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 94