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.

Purchase and sale agreement 102

Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 102

Realty Biz

JANUARY 9, 2024

If there is a wide spread on the value of your home from real estate agents, get a professional appraisal. Review Offers Carefully When considering an offer for a home, it is crucial to pay close attention to the essential contract terms, especially those related to contingencies.

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Purchase and sale agreement Earnest money deposit Title search Title 96

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. Most purchase agreements have some terms in place that must be met for the deal to go through, such as having a home inspection completed. Do contingencies benefit homebuyers?

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Purchase and sale agreement Home sale contingency Inspection contingency Earnest money deposit 91

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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Purchase and sale agreement Earnest money deposit Inspection contingency Home sale contingency 98

Dwell Real Estate

JUNE 24, 2021

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. A seller might entertain other offers after a refusal, but won’t deal with another buyer until the contingent offer is settled in one way or another.

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Inspection contingency Earnest money deposit Pre-approval Inspection 40

Dwell Real Estate

JUNE 24, 2021

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. A seller might entertain other offers after a refusal, but won’t deal with another buyer until the contingent offer is settled in one way or another.

Inspection contingency 40

Inspection contingency Earnest money deposit Pre-approval Inspection 40

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 116

HomeLight

SEPTEMBER 22, 2020

The “best” component refers to all the other terms included in a contract that can be tweaked to sweeten the deal — such as waived contingencies , putting down more cash upfront , or offering a more flexible closing date. 260,000 offer with financing and inspection contingency, 60-day close. So, which one is the best offer?

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Earnest money deposit Inspection contingency Closing Inspection 97

Redfin

JANUARY 26, 2022

PSAs can vary by state but they typically consist of the final sale price, earnest money details, closing date, title information, and contingencies agreed upon by the buyer and seller. In most areas, the buyer will need to deposit a personal or cashier’s check within one to three days of mutual acceptance.

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Purchase and sale agreement Earnest money deposit Sales Title 59

HomeLight

AUGUST 29, 2022

While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. Earnest money deposit amount. Contingencies: Financing, home inspection, and appraisal.

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Earnest money deposit Title Inspection Title search 93

First Team Real Estate

AUGUST 8, 2021

Approximately 25% of all escrows fall through because of inspection contingencies, lending hiccups, appraisal surprises, and more. The difference between a primary offer and a backup offer is that the backup offer’s contractual viability is contingent on the primary offer not going to escrow.

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Backup offer Earnest money deposit Purchase and sale agreement Inspection contingency 98

The Close

SEPTEMBER 10, 2020

When writing the offer with this strong of an approval letter, it allows you to have a shorter financing contingency time and more emphasis on the appraisal contingency time frame. Include an As-is Home Inspection Contingency. Nail the Offer Price & Earnest Money Deposit.

Home sale contingency 115

Home sale contingency Pre-approval Earnest money deposit Marketing 115

HomeLight

APRIL 28, 2023

Get a pre-listing appraisal A DIY comps analysis is risky if you don’t have a ton of experience making sense of property data. Alternatively, you could pay for a pre-listing appraisal. An appraiser will combine desk research with an onsite visit of your home to provide a professional and independent opinion of value.

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Purchase and sale agreement Inspection Title Inspection contingency 75

HomeLight

JANUARY 3, 2023

Get a pre-listing appraisal. Alternatively, you could pay for a pre-listing appraisal. An appraiser will combine desk research with an onsite visit of your home to provide a professional and independent opinion of value. Let’s review some of the top points of negotiation you may encounter: Contingencies. Earnest money.

Purchase and sale agreement 97

Purchase and sale agreement Inspection MLS Inspection contingency 97

HomeLight

JULY 31, 2020

Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). The appraisal is lower than the purchase price. Lenders providing mortgage loans require an appraisal to confirm that the actual value of the home is at least equal to the loan amount.

Closing 109

Closing Purchase and sale agreement Title search Earnest money deposit 109

HomeLight

JANUARY 10, 2023

Get a pre-listing appraisal. Alternatively, you could pay for a pre-listing appraisal. An appraiser will combine desk research with an onsite visit of your home to provide a professional and independent opinion of value. Let’s review some of the top points of negotiation you may encounter: Contingencies. Closing date.

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Purchase and sale agreement Natural hazards disclosure Inspection Title 89

HomeLight

MARCH 31, 2022

Get a pre-listing appraisal. Alternatively, you could pay for a pre-listing appraisal. An appraiser will combine desk research with an onsite visit of your home to provide a professional and independent opinion of value. Let’s review some of the top points of negotiation you may encounter: Contingencies. Earnest money.

Purchase and sale agreement 89

Purchase and sale agreement Inspection Title MLS 89

HomeLight

MARCH 31, 2022

Get a pre-listing appraisal. Alternatively, you could pay for a pre-listing appraisal. An appraiser will combine desk research with an onsite visit of your home to provide a professional and independent opinion of value. Let’s review some of the top points of negotiation you may encounter: Contingencies. Earnest money.

Purchase and sale agreement 88

Purchase and sale agreement Inspection MLS Inspection contingency 88

HomeLight

JANUARY 27, 2021

They include things like lender and broker fees, plus third-party fees like transfer taxes, escrow fees, the appraisal, homeowner’s insurance, and more. They only think of what the lender might charge them for an appraisal, but there’s a ton more involved with closing costs.”. Definitely include an inspection contingency.

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Closing costs Loans Inspection Earnest money deposit 117

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.

Earnest money deposit 95

Earnest money deposit Purchase and sale agreement Title Inspection 95

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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Earnest money deposit Purchase and sale agreement Sales Home sale contingency 94

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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Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 81

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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Earnest money deposit Agents Purchase and sale agreement Title 88

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 111

HomeLight

JUNE 30, 2021

This is why many buyers make offers on their new home that include a sales contingency. With a sales contingency in your offer, you won’t have to close on your new home unless you’ve sold your old home. But a sales contingency could also make it harder to get an offer accepted. What is a contingency?

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Rent back Inspection contingency Earnest money deposit Finance 104

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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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

MARCH 6, 2023

of the purchase price or appraised value, and borrowers must meet certain income limits, owner-occupy the property, and are required to complete homebuyer education counseling. Historically, the Bay Area primed the pump, so to speak, for as-is, non-contingent offers,” he says. Loans are between 3%-3.5%

Closing 86

Closing Earnest money deposit Sales Title 86

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 93

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.

Home sale contingency 90

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 90

HomeLight

SEPTEMBER 1, 2022

While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. Earnest money deposit amount. Contingencies: Financing, home inspection, and appraisal.

Earnest money deposit 90

Earnest money deposit FHA loan Purchase and sale agreement Inspection 90

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 79

HomeLight

MARCH 2, 2023

of the purchase price or appraised value, and borrowers must meet certain income limits, owner-occupy the property, and are required to complete homebuyer education counseling. Order inspections and appraisal If you’re applying for a mortgage, your lender will most likely order the appraisal , and you will pay for it.

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Closing Earnest money deposit Sales Inspection 92

HomeLight

JULY 29, 2022

Getting an appraisal is just one of those steps in the homebuying process, but arguably one of the most important — an appraisal helps determine the value of a property. You may be wondering — when is the appraisal done when buying a home? What is a home appraisal? First things first, what is a home appraisal?

Purchase and sale agreement 83

Purchase and sale agreement Earnest money deposit Inspection Loans 83

HomeLight

SEPTEMBER 1, 2022

While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. Earnest money deposit amount. Contingencies: Financing, home inspection, and appraisal.

Earnest money deposit 76

Earnest money deposit FHA loan Purchase and sale agreement Title 76

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. You don’t need the added stress that comes with the risk of the buyer’s financing falling through or a home inspection turning up unpleasant surprises.

Sales 65

Sales Purchase and sale agreement Earnest money deposit Investor 65

HomeLight

FEBRUARY 28, 2021

There are lots of government contractors, military, and private-sector jobs in this area,” says Arlington property appraiser Rick Phillips, president of Appraisals Guaranteed. To find a reputable appraiser, you can check online resources like The Appraisal Institute , and ask for referrals from agents and home inspectors.

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Earnest money deposit Land Residential Inspection contingency 94