Realtor.com

OCTOBER 29, 2020

Get all contingencies squared away. Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. It’s rarely advisable to waive an inspection contingency. Clear the title.

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The Living Room

MAY 2, 2025

Consider flexibility on closing dates, a solid earnest money deposit, and minimal contingencies to appeal to sellers. The appraisal ensures the home’s price matches its market value, a step that can require negotiation if discrepancies arise.

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RIS Media

APRIL 1, 2021

So should your clients submit an offer with no contingencies to maintain an edge over competing offers? Here’s a look at the pros and cons of removing contingencies early: Pros. – Loss of Earnest Money Deposit (EMD) and other financial liabilities. The Spring 2021 market is hot and competitive!

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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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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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Redfin

MARCH 26, 2025

When buying a home, few clauses are as important, or as misunderstood, as the financing contingency. Whether its your first time buying a home in Seattle, WA or youre looking to invest in a condo in Austin, TX , understanding how a financing contingency works can help you navigate the process and avoid costly mistakes.

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HomeLight

SEPTEMBER 11, 2020

No sales contingency? Make sure your agent stresses that your offer doesn’t contain a sales contingency. Determine how much earnest money to offer. An earnest money deposit (also called a “good faith deposit”) is money that accompanies your offer and communicates your seriousness to the seller.

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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? It sounds pretty straightforward, right?

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Redfin

MARCH 18, 2025

So, while you dont get a check for the amount you put down, the money is still going toward the home purchase. If your earnest money deposit is higher than your required cash-to-close amount, youll get the excess back. There are a few situations where earnest money could be refunded or lost: 1.

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Closing Purchase and sale agreement Earnest money deposit Seller concession 43

CT Homes

AUGUST 31, 2020

Even when you have a signed contract you still need the inspection, appraisal, insurance and closing to go off without a hitch. There is also the issue of the appraisal. Unless there is a massive earnest money deposit, they may be able to walk away if they find a property they like more while risking little.

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HomeLight

OCTOBER 1, 2020

You now have skin in the game in the form of your earnest money deposit, plus you have a legal duty to buy the home (barring certain circumstances). Which contingencies you included in your contract with the seller. What are contract contingencies? Common contract contingencies that let buyers back out of the deal.

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Dwell Real Estate

JULY 10, 2020

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1 to 5 of the real estate purchase price as earnest money. (If

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Dwell Real Estate

JULY 10, 2020

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1% to 5% of the real estate purchase price as earnest money. (If

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Earnest money deposit Inspection contingency Purchase and sale agreement Pre-approval 40

Redfin

JUNE 11, 2025

In real estate, contingencies are conditions included in a purchase agreement that must be met for the transaction to move forward. Although not required, contingencies are standard in most real estate contracts – and some are especially important depending on where you’re buying.

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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. Offer a Larger Earnest Money Deposit. Make a Strong Bid.

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Purchase and sale agreement Earnest money deposit Seller concession Finance 117

HomeLight

JULY 12, 2024

You can then make a strong offer on your next home with no home sale contingency. Home appraisal: Assessing the property’s market value to ensure it aligns with the purchase price. If the purchase agreement falls through and it’s determined to be the buyer’s fault, the seller usually keeps the money.

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Realty Biz

OCTOBER 13, 2020

What to Know About House Appraisals. A house appraisal can be concerning whether you are buying or selling a home. The licensed appraiser will check the property to work out the fair market value. Will the appraiser assess the home to be worth what is expected? Will the appraisal come in low? What happens then?

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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 111

CT Homes

NOVEMBER 24, 2020

Cash, As-Is, no appraisals… easy peasy! 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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Realty Biz

APRIL 17, 2023

You must put up an earnest money deposit when you buy a home. The purpose of earnest money is to show you're serious about buying. Many people refer to earnest money as a good-faith deposit. We will look at some of the most common ways a buyer's earnest money is refundable.

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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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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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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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Realty Biz

MAY 24, 2022

But there could be something else involved such as a contingency clause. Because your buyer is saying it is about not taking out a mortgage at today’s interest rate, I’m thinking the earnest money is what you will primarily get from a failed sale of your house. You did get an earnest money deposit, didn’t you?

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Redfin

MARCH 2, 2023

One important concept that all homebuyers should be familiar with though is the appraisal contingency. In this guide, we will explore what an appraisal contingency is and how it can impact your homebuying journey. What is an appraisal contingency? What is a contingent offer?

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Realty Biz

SEPTEMBER 11, 2023

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. Real Estate agents make the status of houses contingent when a contract has been executed. This can disrupt the sale process.

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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.

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Purchase and sale agreement Earnest money deposit Option period Inspection 116

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. I’m almost certain that your biggest concern is about what will happen with your earnest money if you back out of the deal.

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Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 95

Realty Biz

APRIL 20, 2022

Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause. Home Sale Contingency.

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HomeLight

SEPTEMBER 16, 2022

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 long is a typical option period? Can it be extended for any reason?

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Redfin

JUNE 23, 2025

You can schedule inspections, review the title, secure an appraisal, and check for any red flags that could affect your decision to buy. In some states, buyers may also pay due diligence money—a non-refundable fee paid directly to the seller in exchange for this inspection window. >> Read: What is a Home Appraisal?

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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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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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HomeLight

JULY 31, 2022

The template will include your offer price, down payment amount, earnest money deposit, contingencies, and desired closing date. Earnest money , also referred to as a “good faith deposit,” is an amount that a buyer agrees to pay the seller to indicate their seriousness about buying the property.

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Redfin

JULY 9, 2025

Decide on important terms like earnest money deposits, contingencies (inspection, financing), and closing dates that can make your offer stand out. These can include changes to the purchase price, closing date, or contract contingencies. Your agent will draft and submit a formal offer letter to the seller’s agent.

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HomeLight

SEPTEMBER 1, 2022

Once you have the purchase agreement in hand, you might think there are no more obstacles in your way, but the home still has to appraise for the amount you agreed to pay for it. Before the pandemic created a hot market, about 8% of appraisals came in lower than the offer on the home. What is a low appraisal?

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Point2Homes

JANUARY 31, 2023

Contingencies When you make an offer, it’s important to add specific conditions that must be met before the sale can proceed. For example, it’s common for real estate offers to be contingent on the results of the home inspection and appraisal , as well as whether the buyer is able to secure financing or not.

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