Realtor.com

APRIL 9, 2021

When a real estate listing is “under contract,” there are still contingencies attached to that offer that must be cleared before closing, says Kelley Ramirez , a real estate agent with Charles Rutenberg Realty in Central and South Florida. In other words, if you want this home for yourself, that could still happen. “If

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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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Realtor.com

JANUARY 12, 2021

Buyers can also take backup offers (more on these options later). For example, the buyer has specific obligations called contingencies, which include things such as loan approval, home inspection, and a home appraisal. Can home sellers accept backup offers? Should home buyers bother making a backup offer?

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Realtor.com

NOVEMBER 28, 2022

That’s why it’s in your best interest to let your real estate agent play the field and allow your home to be shown, even if you’ve accepted an offer. Can you show your home with an offer on the table. Until all contingencies have been removed during escrow, continuing to show the property is advisable,” says Peters.

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Marco Santarelli

APRIL 15, 2023

In this article, we will take a closer look at three key real estate contract terms: Contingent, Under Contract, and Pending. When a buyer submits an offer to purchase a property, and the seller accepts that offer, the property is considered “under contract.” What Does “Contingent” Mean?

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Real Trends

MARCH 8, 2023

If your sellers have a backup offer, evaluate all the facts before you switch to accepting that deal. If there is no backup offer, request a 2-week extension so you have time to resolve the issues. If the buyer still wants to buy and the seller wants to sell, you still have a deal. Get to work to solve the problem.

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HomeLight

DECEMBER 31, 2020

The property appraisal. Contingencies that fail to be met or lifted. A kick-out clause gives you the right to continue showing the home during the contingency period. If you receive another offer, your original buyer will have a certain period of time (usually 24, 48, or 72 hours) to remove the contingency holding up escrow.

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HomeLight

NOVEMBER 1, 2021

If you’re selling your home in a hot market rampant with bidding wars that drive up the purchase offers on home sales, you may realize that your home is unlikely to appraise for the inflated purchase offer or even for your asking price. How is the appraised value of the home determined? What is an appraisal gap?

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RIS Media

MAY 19, 2021

.” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” One of the most confusing things for buyers and sellers to understand is what contingent means vs. pending. Contingent Meaning. Financing or Mortgage Contingencies.

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Realty Biz

NOVEMBER 15, 2021

They were finally successful after a search lasting more than five months, when they made an offer on a home within an hour of seeing it last February. They were told immediately afterwards that the home was already under contract, though their backup offer of $780,000 was eventually accepted after the first transaction fell through.

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RIS Media

APRIL 18, 2022

Buyers are waiving their home appraisal or offering an appraisal gap guarantee. Getting rid of the mortgage financing clause in their offer. You may see some of these things or all of them before making an offer. It will help tailor your offer when the time comes. Any contingencies you want.

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HomeLight

OCTOBER 20, 2020

As any seller would be, you’re thrilled when an offer comes in for your property — but that excitement fades when you find out it’s contingent on the sale of the buyer’s home. But there are some elements — like the kick-out clause — that give sellers a little more control over the contingency period in particular.

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Realty Biz

MAY 24, 2021

You can work closely with your real estate agent to structure an offer that will gain the attention of the seller based on contingencies, concessions, and anticipated closing date. Even if you are outbid, make your best offer a backup offer. Some buyers will offer more than they can deliver. Be patient.

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HomeLight

SEPTEMBER 16, 2022

The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. Financing contingencies and appraisal contingencies are separate from the option period — but the only way for a buyer to get the option fee returned to them, is if they close the sale, according to Bacak.

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First Team Real Estate

DECEMBER 7, 2020

Having several offers on your home is fantastic, however, how do you guarantee you pick the very best deal and don’t miss out on an even better one? First Team Instant Offers allows our clients the opportunity to review a cash offer on their home at any time to eliminate the hassles of a traditional home sale.

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HomeLight

DECEMBER 31, 2020

Rachel Massey , a certified residential appraiser in Ann Arbor, Michigan, agrees that online valuators can be reasonably reliable or wildly inaccurate, depending on the type of housing and the location. When it might be smart to run your own comps: You want to confirm a valuation that has been determined by an agent or appraiser.

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HomeLight

JULY 6, 2023

Let’s sort through how potential buyers and their agents view statuses such as “real estate pending” vs. “contingent,” so you can present your home accurately and still meet your selling goals. Learn More Contingent or pending, you’re under contract! Enter the difference between “contingent” and “pending.”

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HomeLight

OCTOBER 11, 2021

You might also see terms such as “active short contingent,” which means an offer has been made on the property and is awaiting approval from the bank, as well as “pending short lender approval” or just “short sale contingent.” If they are worried the current offer might fall through, having a backup offer is usually welcomed.

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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? In this guide, we’ll take the term “active contingent listing” and break down what it means. What does active contingent mean?

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HomeLight

JANUARY 5, 2022

While most contracts include contingencies that may allow an escape from the deal, those loopholes are generally built in to protect buyers, not sellers. Typically, the seller’s agent stops accepting offers once the home is pending sale. We’ll look at buyer contingencies later in this post. In fact, throughout the U.S.,

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HomeLight

MARCH 20, 2023

Most often, this type of scenario calls for a home sale contingency. With the help of real estate agent Jesse Allen , a single-family home expert in southern Indiana , we’ll help to explain the ins and outs of home sale contingencies, and offer additional alternatives for buyers who currently own a home.

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HomeLight

DECEMBER 30, 2021

The only thing that stands between you and a sale is the appraisal. Here’s our cheat sheet with the answers you need to ace your appraisal. Before the appraiser comes: Checklist 1 – Do your homework. Before the appraiser comes: Checklist 1 – Do your homework. Understand the role of an appraiser.

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HomeLight

MARCH 15, 2021

I basically explain, like the five parts on offer are price, earnest money, down payment, close date, and then there’s this miscellaneous bucket which includes a bunch of other things, you know, inspection period, appraisal contingency, repairs, personal property, rent back, etc. There’s nothing wrong with the house.”

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HomeLight

OCTOBER 5, 2020

I basically explain, like the five parts on offer are price, earnest money, down payment, close date, and then there’s this miscellaneous bucket which includes a bunch of other things, you know, inspection period, appraisal contingency, repairs, personal property, rent back, etc. There’s nothing wrong with the house.”

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