Remove appraisal-contingency
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4 Things Sellers Need to Know About Backup Offers

First Team Real Estate

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. What does it mean when it says accepting backup offers? What is a backup offer? Backup offers, however, can be tricky.

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What Does Contingent Mean in Real Estate Sales

Realty Biz

The Definition of Contingent. Do you know what contingent means when either buying or selling a home? For example, if a home sale is contingent or pending, can you still make an offer? Let’s take a closer look at the meaning of contingent , so you can see how it might affect a home you are looking to buy.

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Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

.” 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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What Is an Option Period When Buying a Home?

HomeLight

The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. The buyer would still receive back the earnest money deposit (EMD) placed down at signing, usually between 1% and 3% of the sale price. How much is a typical option period fee? Is this refundable?

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Why Sellers Should Add a Kick-Out Clause to Avoid a Contingency Nightmare

HomeLight

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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What Is a Home Sale Contingency?

HomeLight

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.