Remove appraisal-contingency
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From consultation to closing: The definitive homebuying checklist

Housing Wire

Offers: Outline how making a competitive offer will work, including how price, contingencies, due diligence funds, and earnest money will impact how the seller views an offer. Clarify key steps like inspections, appraisals, and the importance of meeting deadlines and any impacts of missing them.

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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. Specifically, they want to be sure it’s worth the money they’re lending you and, most importantly, that they’ll recoup their investment if you default on the loan. Scenario 1: Your home appraises at your full offer price. The purpose?

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How to Avoid Losing Earnest Money Deposit When Buying a Home

RIS Media

Buying a home involves multiple steps, including providing an earnest money deposit. This deposit is a sign of good faith between the buyer and seller. However, losing this deposit can be a significant financial setback. It indicates the buyer’s commitment to purchasing the property.

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Waiving Home Inspections: Just Because Other Buyers Are Doing It, Doesn’t Mean You Have to (Or Should)

Lighter Side of Real Estate

Waiving contingencies like inspections or appraisals became a common tactic, not necessarily because buyers wanted tobut because it sometimes felt like the only way to be seen on equal footing. Offering a higher earnest money deposit signals commitment and increases the sellers confidence that youll follow through.

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Earnest Money and House Deposits Explained

Rochester Real Estate

The Essentials of Home Deposits When you make an offer on a house , you want the seller to take their property off the market. This isn’t without risk for the seller, and to show you are serious about the purchase, a good faith house deposit is required. The answer depends on who didn’t follow the contract properly.

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Does Earnest Money Go to Your Down Payment? Find Out Here

Redfin

Its credited back to the buyer at closing: If the deal moves forward, your earnest money is applied toward your down payment or closing costs. However, if you back out of the deal for reasons not covered by contingencies (such as inspection or financing), you may forfeit the earnest money to the seller.

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A Seller’s Guide To When A Buyer Does and Doesn’t Get Their Earnest Money Back

HomeLight

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?