CT Homes

NOVEMBER 24, 2020

Cash, As-Is, no appraisals….easy The “Non-Contingent” Offer. What exactly is a non-contingent offer? When a buyer submits a “Non-Contingent” offer, they are essentially forfeiting any and all of their privileges to perform due diligence on a property they’re interested in.

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Earnest money deposit Due diligence Inspection Investor 52

Redfin

MARCH 12, 2021

Once the seller’s agent is able to confirm that your earnest money has been deposited into an escrow account, the seller’s agent will mark the listing as a pending sale — in effect taking the property off the market. How much earnest money do you need to offer? Where does the earnest money go? .

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Earnest money deposit Purchase and sale agreement Due diligence Inspection 75

Realty Biz

NOVEMBER 11, 2020

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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Backup offer Sales Home sale contingency Earnest money deposit 113

HomeLight

JUNE 23, 2022

However, if the buyer terminates the contract for any other reason not specified in these conditions, the seller is typically entitled to keep the earnest money as a concession for the time they took the home off the market to enter into the exclusive agreement. Is earnest money refundable?

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Earnest money deposit Purchase and sale agreement Due diligence Home sale contingency 109

HomeLight

JULY 26, 2022

In a best case scenario, negotiations go smoothly, the inspection doesn’t reveal any major issues, the appraisal comes in right where it should, and the whole process is very efficient (we’ll get into what could create some hiccups later on). When you make an offer, be sure to include any contingencies that you want fulfilled.

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Earnest money deposit Purchase and sale agreement Title Inspection 106

HomeLight

APRIL 30, 2021

Then it’s a matter of completing your due diligence: clearing the home’s title , getting a home inspection , confirming the home’s price (through an independent appraisal, if you choose), and closing the transaction. Because of the due diligence involved with issuing mortgages, it takes a lot longer to close on a home with one.

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Due diligence Finance Proof of funds Earnest money deposit 104

HomeLight

OCTOBER 30, 2020

And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. With a mortgage, there are all kinds of things that can go wrong to delay closing — financing issues and appraisals coming in low are two of the most common.

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Closing Inspection contingency Title search Purchase and sale agreement 113

HomeLight

AUGUST 9, 2022

It shows them you’re serious about buying their home and that you’re able to put your money where your mouth is, so to speak. If you back out of the sales agreement and your reason for doing so isn’t covered by contingency written into the contract, the seller can keep your earnest money. Appraisal fee. Escrow fee.

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Earnest money deposit VA loan Purchase and sale agreement FHA loan 103

HomeLight

OCTOBER 29, 2020

And that’s before buyers even start thinking about steps like making a contingent offer. This means buyers need to come prepared with enticing offers and the capacity to quickly follow through, and nothing can sideline an otherwise stable deal like tricky contingencies. What is a contingent offer? Negotiable contingencies.

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Purchase and sale agreement Pre-approval Earnest money deposit Inspection 80

HomeLight

MAY 24, 2022

Even though it’s all cash to the sellers at closing, with a cash offer, “you don’t have to go through the appraisal or the bank approval process — it’s cleaner.”. But other than reaching the closing table faster with cash, another advantage to a cash offer is that it saves you money long-term. Submit earnest money: 1 day.

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Purchase and sale agreement Closing Title search Title 108

HomeLight

JULY 31, 2021

The bills are stacking up or perhaps you lost some income recently, and the money tied up in your home would help a ton at a time like this. turn four walls and a roof into money in the bank, without the need for inconvenient showings, nail-biting appraisals , or a 50-day closing. Order a home appraisal.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

MARCH 16, 2023

More certainty: With a pre-offer walk-through, a cash home buyer can typically provide a firm cash offer that comes with few contingencies, or no contingencies at all. Rather than invest a great deal of time and money to update your home, you can leave this up to someone else while you begin the next chapter of your life.

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Sales Purchase and sale agreement Earnest money deposit Investor 74

HomeLight

SEPTEMBER 1, 2022

It’s important to do your due diligence when deciding what agent to hire. In a seller’s market, adding fewer contingencies, raising your earnest money, and buying in cash to avoid a financing contingency can make your offer stronger. Send your earnest money deposit.

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Earnest money deposit VA loan FHA loan Loans 103

The Close

DECEMBER 29, 2022

Active contingent. To help your clients understand contingencies, use the word “conditional.” ” If a property is active contingent, a buyer has submitted an offer to purchase a property, but the sale won’t be finalized until certain conditions, or contingencies, are met. Sure, deals can fall apart.

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Purchase and sale agreement Title Proof of funds Pre-approval 98