Housing Wire

FEBRUARY 9, 2021

When you go to buy a home , your mortgage lender will almost always order a home appraisal. Scenario 1: Your home appraises at your full offer price. Many times, the home appraisal goes off without a hitch. You make an offer on your dream home, and the appraiser verifies the property is worth what you offered (or more).

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HomeLight

FEBRUARY 20, 2025

To sweeten your offer, you may be considering waiving the appraisal contingency, promising not to walk away from the deal if the appraisal comes in below your offer price. The appraisal contingency is there to protect the buyer in case of any issues surrounding your appraisal. What is a contingency?

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Housing Wire

OCTOBER 27, 2020

It’s just one of the many reasons to think long and hard about making a contingent offer. Are you considering adding contingencies to an offer you’re submitting? Here’s what to think about: Contingent offers and how they affect your deal. Sellers can have contingencies, too. Sellers can include contingencies, too.

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Housing Wire

JULY 26, 2024

The majority of real estate sales fall under this category and usually employ a buyer’s and seller’s agent who negotiate on behalf of their respective parties. Although you can sell your home for whatever price you like, a controlled sale may incur certain tax liabilities for both parties. Agree on contingencies.

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Housing Wire

JUNE 25, 2024

Home appraisals are critical to the home buying and selling process. But that’s not all a home appraisal can do. Let’s take a closer look at appraisals, what they mean for a sale, and how to leverage the results to get your clients the best price possible. What is the purpose of a home appraisal?

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Housing Wire

JUNE 4, 2021

The winning buyer also waived appraisal and financing contingencies and dropped off cupcakes that matched the interior colors of the house, which was a nice touch because the seller is an artist and the home is unique and colorful.” . The median Austin home-sale price in the Texas capital increased 42.3%

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Housing Wire

SEPTEMBER 9, 2020

and I counseled my client to bid accordingly, waive his mortgage contingency, then we bid $1.45 Another critical element, according to agents, is not to make the deals contingent upon things like inspections and not to “nickel and dime” the seller. To win, waive those contingencies goodbye. million and we got it.”

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Housing Wire

JULY 29, 2022

The median home-sale price nationwide did rise 11.2% San Francisco actually posted a home-price decrease of 0.5%, turning in a $1,581,000 median sale price for June. Home sales for June declined by nearly 16% year over year in June, the Redfin report shows, “the largest decline since May 2020.”. year-over-year decline.

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HomeLight

SEPTEMBER 6, 2024

Part of the complexity of real estate transactions is that they can involve contingencies — conditions that parties add to an agreement that have to be met before the deal can be finalized. In particular, you may be wondering: what is an appraisal contingency, and why is it important? Get Estimate First, what is an appraisal?

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Housing Wire

OCTOBER 1, 2022

As reported in the latest NAR Existing-Home Sales , inventory still remains in tight supply, which means homes are still moving at a fast past despite the recent rise in rates and home prices. One way to understand the competitiveness of the market is to look at buyers who are waiving contingencies. All cash buyers now stand at 24%.

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Housing Wire

JUNE 23, 2021

” The median home-sale price in Seattle rose 26.1% Because buyers almost always have to pay way above the asking price to win a home, they should start their search with homes below their budget and make sure they have money in the bank to cover a low appraisal to make their offer stand out.” a year earlier.

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Housing Wire

MAY 18, 2021

The median sale price is even higher, at $795,000. ” Emily Cressey, a broker with HomeSmart in Seattle, lives on the north side of the city and said properties for sale are getting 20 to 30 offers each. They’re even waiving appraisals. “That’s incredibly strong appreciation. .”

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Keeping Current Matters

OCTOBER 25, 2021

Buyers in today’s market often have questions about the importance of getting a home appraisal and an inspection. That’s because high buyer demand and low housing supply are driving intense competition and leading some buyers to consider waiving those contingencies to stand out in the crowded market. Home Appraisal. Bottom Line.

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Windemere Buying

MAY 19, 2025

Thats where contingencies come in. Contingencies are built-in protections within a real estate contract. They help both buyers and sellers navigate the natural ups and downs of the home-buying process by setting clear conditions that must be met for the sale to go through. And in some cases, the deal can fall through.

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Redfin

MARCH 7, 2025

Comparable sales (comps) Reviewing recent sales of similar homes in your area, called real estate comps , helps determine a fair listing price. How to price your home for sale A good starting point is to get your Redfin Estimate , which gives you a ballpark figure of what your home is worth and what price you could sell your house for.

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Housing Wire

MAY 11, 2022

The firm expects homebuyers to close a cash home purchase loan as fast as 10 business days without an appraisal or financing contingency. billion in volume in the correspondent channel in 2021, the gain-on-sale margins in the correspondent channel were 31 basis points compared to 234 basis points in the wholesale channel.

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Housing Wire

JUNE 9, 2025

Instead of asking, “Tell me about the housing market,” ask, “Can you provide recent sales data for single-family homes in the 90210 ZIP code?” For instance, ask, “What are the most important factors to consider when pricing a property for sale?” Get as much substance and detail as you can.

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Housing Wire

MAY 20, 2022

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. According to the Hilton Head Area Association of Realtors , the median home sale price jumped 15.3% Now, we have under 200 homes for sale, and a year ago, we had over 400 homes. in 2021 to $330,745. “It

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Housing Wire

APRIL 25, 2024

Monika DeRoussel was in a meeting, away from her phone and email, when a client messaged her that a property in their price range and desired neighborhood had a for-sale sign in the yard. And it was a solid cash offer, no contingency and was going to close within a week. We couldn’t even see it. It is so hard to compete with that.”

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Lighter Side of Real Estate

MARCH 5, 2025

Contract Cancellations Are on the Rise According to recent data , more home sales are being canceled than in previous years. of all pending sales that month. Meanwhile, pending home sales have dropped. Generates stronger offers, reducing the likelihood of low appraisals. Contingencies. Low appraisal?

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BAM Media

DECEMBER 19, 2024

Sellers remain confident in their ability to move properties quickly, with 72% expecting to close within 4 months or less.

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HomeLight

JUNE 9, 2023

But as your eyes scan the details of the listing, you come across a term that makes you pause: “Contingent.” ” So, what does contingent mean in real estate? A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet.

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Housing Wire

OCTOBER 1, 2021

“May and June of this year we were still seeing in the realm of crazy, where you put up a an attainable property right and you may be getting somewhere between, no joke, 20 to 30 offers, with waving appraisal contingencies, doing non-refundable earnest money upon acceptance and acceleration clauses,” Barton said.

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RIS Media

APRIL 8, 2022

Once you find your dream home and it happens to be marked as contingent, you can still place an offer. Here’s all you should know about contingent sales as a potential home buyer. Contingent meaning. An active listing means the home in question is currently on sale, and sellers are actively open to offers.

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Point2Homes

DECEMBER 8, 2020

When searching for the ideal home, expect to encounter a few issues along the way, such as homes listed as contingent. But, what does contingent mean and how does it affect your purchase? A home listed as contingent means the seller has accepted an offer. How is Contingent Different from Pending? Contingent Statuses.

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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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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. If something is wrong, you can request that it be fixed—or you can back out of the sale.

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Redfin

APRIL 4, 2025

Whether you’re selling a home in Denver, CO or a condo in Phoenix, AZ , a pre-listing appraisal can provide an accurate estimate of your homes value before it hits the market. What is a pre-listing appraisal? A pre-listing appraisal is a professional estimate of your homes value, completed before you put it on the market.

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Realtor.com

JULY 13, 2021

But some buyers in especially tight markets are taking even riskier measures to beat out competitors: They’re removing contingencies. Contingencies, in the world of real estate, are essentially conditions that must be met to finalize the sale of a home. Home inspection. Watch: 6 Shockers About Your Septic System.

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Redfin

JUNE 9, 2025

An appraisal gap occurs when a home’s appraisal value comes in lower than the price the buyer agreed to pay. This is a common challenge in competitive housing markets, where roughly 8% of home appraisals come in below the contract price. Table of contents What is an appraisal gap? Why do appraisal gaps happen?

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Housing Wire

MARCH 1, 2022

News just broke that private equity investor LLR Partners announced strategic investments in two mortgage technology companies — Mortgage Coach and Sales Boomerang ( click here for article ). Reggora is focused on helping its clients reduce appraisal desk staff by 75% by eliminating manual work. “Hey Clayton …” and a link.

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HomeLight

MARCH 20, 2023

That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. Most often, this type of scenario calls for a home sale contingency. Find a Buyer's Agent What is a home sale contingency? If the buyer’s current home sells, the sale of the new home can proceed.

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Redfin

JULY 2, 2025

Can a seller back out of a sale before closing? Yes, a seller can back out of a home sale, but only with a valid legal or contractual reason. Buyers often have contingencies (like financing or inspections) that allow them to cancel without penalty. When can a seller back out of a home sale?

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The Close

MARCH 11, 2025

The process of locating and purchasing for sale by owner (FSBO) properties can be a complex endeavor for investors. Weve identified six steps for how to find for sale by owner homes, along with the advantages and disadvantages of navigating the FSBO process without a real estate agent involved.

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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

DECEMBER 30, 2023

You may be building an online watchlist of homes you’re interested in seeing, but then you notice a label tagging your favorite property listing as “under contract” or “sale pending.” What buyer contingencies might put a listing back on the market? What home contingency missteps should you avoid when making an offer?

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HomeLight

SEPTEMBER 10, 2022

Say you’re visiting yard sales on a Saturday morning and you come across the perfect wicker patio set, exactly what you’ve been looking for. The first buyers must remove the contingency clause and possibly give the seller additional earnest money to keep the contract in force. An inspection contingency. An appraisal contingency.

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