Windemere Selling

MAY 16, 2022

If a buyer is hesitant about purchasing a home, the best time to back out of the deal is before their offer is accepted. Buyers will typically include contingencies in their offer to specify the criteria that will allow them to walk away from the deal unscathed and the timeframes for doing so.

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Backup offer Purchase and sale agreement Inspection Agents 52

Housing Wire

JANUARY 12, 2022

If a buyer fails on a contingency, there are multiple backup offers sitting there behind them and it might be several months before they can get into contract on that next home. In recognition of the transitions ahead, Pennymac is making changes to ensure that 2022 forms the foundation for long-term value for its wholesale partners.

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Backup offer Technology Loans Closing 378

Realtor.com

NOVEMBER 28, 2022

You’ve accepted the offer , which means you’re in wedded bliss and off the market, so to speak, right? This states that although you’re currently under contract, you’re allowed to kick out the buyer for a better offer that comes along during the contract period, Edgar says. “As Sure, you’ve found a (nearly) perfect buyer.

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Marco Santarelli

APRIL 15, 2023

When a buyer submits an offer to purchase a property, and the seller accepts that offer, the property is considered “under contract.” However, in some cases, you may still be able to make an offer on a property listed as under contract. What Does “Contingent” Mean? What Does “Pending” Mean?

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Backup offer Purchase and sale agreement Inspection Finance 52

Real Trends

MARCH 8, 2023

If your sellers have a backup offer, evaluate all the facts before you switch to accepting that deal. If there is no backup offer, request a 2-week extension so you have time to resolve the issues. If there is no backup offer, request a 2-week extension so you have time to resolve the issues.

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Debt-to-income ratio Finance Backup offer Agents 94

The Residential Specialist

DECEMBER 31, 2020

Dealing with multiple offers can overwhelm sellers, who are already going through an emotional and challenging journey by selling their homes. She and her co-owner/broker, Renee Silk, recently dealt with the biggest multiple-offer situation in their 27-year history: 16 showings and 10 offers on a modest brick ranch house within 24 hours.

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Backup offer Pre-approval Agents Banks 98

Point2Homes

DECEMBER 8, 2020

A home listed as contingent means the seller has accepted an offer. Up until this time, the home can continue to be shown to other potential buyers and offers can still be accepted. This status is used when the seller has accepted an offer with contingencies that don’t have to be completed by a certain date. Kick-Out Clause.

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Purchase and sale agreement Backup offer Home sale contingency Short sale 145

Norada Real Estate

APRIL 20, 2023

Can a seller accept another offer while under contract? If a house is under contract, can I still make an offer? When a seller accepts an offer from a buyer, they sign a contract that outlines the terms of the sale. When a seller accepts an offer from a buyer, they sign a contract that outlines the terms of the sale.

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Backup offer Due diligence Finance Inspection 52

Realty Biz

NOVEMBER 11, 2020

For example, if a home sale is contingent or pending, can you still make an offer? How your real estate agent markets your property when an offer has been accepted can have vital implications. When a home sale is listed as contingent, it means that the seller has accepted an offer with contingencies. What does Contingent Mean?

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Realty Biz

SEPTEMBER 14, 2021

The seller has agreed to accept a contingent offer from the purchaser. During this time, the seller can still accept backup offers from other interested parties. What is Active Under Contract? In other locations, the sale may be referred to as being contingent in the multiple listing service (MLS).

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Backup offer Purchase and sale agreement Inspection Sales 124

HomeLight

JULY 23, 2021

Since most homes for sale are made available through the MLS — which syndicates to lots of different real estate websites and makes properties available to all agents within the region — it’s fair to wonder if a house with an offer on it will be removed from the MLS. Will a house with an offer on it be removed from the MLS?

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HomeLight

DECEMBER 31, 2020

Sale pending is the status in between active and sold, which indicates that you’ve accepted an offer and are in the process of selling, but that the sale is not yet completed. If you receive another offer, your original buyer will have a certain period of time (usually 24, 48, or 72 hours) to remove the contingency holding up escrow.

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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. An active listing means the home in question is currently on sale, and sellers are actively open to offers. Here’s all you should know about contingent sales as a potential home buyer. Contingent meaning. These include; .

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Debt-to-income ratio Title search Backup offer Home sale contingency 144

Realtor.com

SEPTEMBER 14, 2020

We actually received multiple offers. It is currently under contract, and I have a backup offer as well,” she notes. The new owners, she says, made an offer without even seeing the property in person. In every room. It was his life’s mission to wallpaper his home in beer cans,” Kearney says, “and he did it.”.

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Realty Biz

NOVEMBER 15, 2021

They were finally successful after a search lasting more than five months, when they made an offer on a home within an hour of seeing it last February. They were told immediately afterwards that the home was already under contract, though their backup offer of $780,000 was eventually accepted after the first transaction fell through.

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Backup offer Inspection Land Technology 104

First Team Real Estate

MAY 27, 2021

Of the four luxury real estate sales I closed in April, three of the transactions were backup offers, and another I secured for my client through targeted outreach with an “I have a buyer letter.” What would you say is your greatest strength? What tools, resources, and techniques have helped your business thrive?

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Realty Biz

MAY 24, 2021

Learn the number of days these houses have been staying on the market before an offer is made. Learn if the offers have been below the asking price, full asking price, or if a bidding war took place. Even if you are outbid, make your best offer a backup offer. Some buyers will offer more than they can deliver.

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Realty Biz

JULY 25, 2023

It's important to understand the contingencies in a real estate contract before you make an offer on a property. When you're looking to buy a home, you'll likely come across the terms "under contract" and "pending sale." These terms are often used interchangeably, but there is a subtle difference between them. Let’s take a closer look.

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RIS Media

APRIL 18, 2022

There’s no guarantee that the property you like will be available when you’re ready to make an offer. Multiple offers and bidding wars on houses are the norm, not the exception. You may see some of these things or all of them before making an offer. It will help tailor your offer when the time comes.

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Realtor.com

DECEMBER 31, 2020

But if you truly dig the vibe, there may be a slim chance—the sellers are accepting backup offers. And when they do, they wind up selling in a flash. Such is the case with this snazzy ranch house built in 1958 and listed on Christmas Eve at $1,299,000. The Atomic Age beauty went under contract within three days. Dining room.

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Backup offer Land Design Residential 88

Windemere Selling

NOVEMBER 30, 2022

And for buyers, it helps to be familiar with these terms when searching for your next home and how they factor into making an offer. Pending: When a home is listed as “pending” it means the seller has accepted the buyer’s offer and the sale will most likely be finalized after a successful final inspection and the buyer securing financing.

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Purchase and sale agreement Backup offer Home sale contingency Inspection 52

HomeLight

OCTOBER 20, 2020

As any seller would be, you’re thrilled when an offer comes in for your property — but that excitement fades when you find out it’s contingent on the sale of the buyer’s home. In real estate, a “contingent” offer means that one or both parties have requested certain provisions before the deal closes.

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Backup offer Purchase and sale agreement Earnest money deposit Home sale contingency 56

HomeLight

NOVEMBER 1, 2021

If you’re selling your home in a hot market rampant with bidding wars that drive up the purchase offers on home sales, you may realize that your home is unlikely to appraise for the inflated purchase offer or even for your asking price. An appraisal gap is the difference between the purchase offer and the appraised value of the home.

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Purchase and sale agreement Proof of funds Backup offer Finance 92

The Close

APRIL 26, 2022

Agents who are neighborhood specialists typically have sellers who would sell their home if they got an offer they can’t refuse , as well as other homesellers who are preparing their home to sell it in the next few months. The goal is to make their seller client an unbeatable offer even before they’ve signed a listing agreement.

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Backup offer Purchase and sale agreement MLS Agents 76

HomeLight

JUNE 9, 2023

A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet. If you receive a contingent offer as a seller, statistically speaking, that deal is likely to still close. ” So, what does contingent mean in real estate?

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 141

First Team Real Estate

NOVEMBER 9, 2020

In today’s active seller’s market with multiple offers, as a homebuyer, you need to make sure you’ve found an agent who’s truly committed to helping you find your next home at favorable terms. You deserve an agent who listens, understands, and develops a plan of action personalized to you.

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Agents Purchase and sale agreement Backup offer MLS 93

Easy Agent Pro

JUNE 8, 2021

Multiple offers? how to buy a house before selling yours” is a trending Google search term (spiking 160% last week) so offering an answer in blog form is a wise move. As we all know, there’s more to an offer than price. There is another way to rank higher: blogging, consistently. What topics would be of interest to homebuyers?

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Agents Purchase and sale agreement Backup offer Title 116

RIS Media

MAY 15, 2021

The seller, despite having 13 backup offers, instructed his listing agent to contact “that agent” who came to his house with the “little girl” before putting the house back on the market—a testament that screams volumes about RomeoDiSantillo and how she puts herself out to the world. The kicker?

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Backup offer Inspection Agents Residential 95

Windemere Buying

JUNE 22, 2022

The seller rejects your offer: If a seller rejects your offer, your agent may be able to relay information from the listing agent as to why it was insufficient. This can serve as a learning opportunity for the next time you prepare an offer. This is an indication that your offer has piqued the seller’s interest.

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Purchase and sale agreement Inspection contingency Seller concession Backup offer 52

RIS Media

MAY 19, 2021

The contingent status typically allows the home to be shown to other possible buyers, allowing backup offers to be made. If the appraisal comes in lower than the amount the buyer has offered, it could stop the purchase in its tracks—problems like this account for nearly 20% of delayed contracts. Contingent vs. Pending?

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

HomeLight

SEPTEMBER 16, 2022

The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. We all know the feeling of angst that hits as we move closer to the barista at a coffee shop to order a morning java. If you don’t know what you want, the line disappears too quickly. What is an option period?

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Option period Earnest money deposit Due diligence Inspection 85

First Team Real Estate

DECEMBER 7, 2020

In numerous cities, home buyer demand is up while inventory stays low– leaving house hunters fighting it out in multiple-offers scenarios and sellers attempting to browse everything. Having several offers on your home is fantastic, however, how do you guarantee you pick the very best deal and don’t miss out on an even better one?

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Purchase and sale agreement Pre-approval Title Backup offer 98

HomeLight

OCTOBER 11, 2021

Can you still make an offer on the house, or are you out of luck? And can you still make an offer on an active pending short sale? The lender has the final say on these types of sales, and all offers must go through them. With a short sale, the bank is the one accepting the offer,” he says. Wait, what?

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Short sale Sales Banks Backup offer 73

First Team Real Estate

DECEMBER 14, 2020

Selling your home can be a time-consuming and expensive undertaking — so it’s important to work with the right company that is committed to providing the highest quality service while helping you save whenever possible. Pricing Your Home. Our Strategy. It is not an appraisal and it should be used as a starting point.

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HomeLight

DECEMBER 31, 2020

An automated valuation model (AVM) is a tool that uses mathematical modeling, tapping into a database of recent sales of the property in question, comparable sales in the area, and other public data to come up with an estimated property value. The AVM can serve as a good starting point or a quick check of estimated value. Do your own comps analysis.

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HomeLight

JULY 6, 2023

Contingent: The deal hinges on certain conditions “Contingent” usually means that you, the seller, have accepted an offer, but the offer is contingent on fulfilling certain criteria. Step one: Talk to an expert! Selling your house soon? Learn More Contingent or pending, you’re under contract!

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HomeLight

JANUARY 13, 2022

We’ve consulted with real estate experts and combed through the available data to help you understand what an active contingent listing is, what it means for buyers looking to put an offer on the home, and what buyers can do to make offers on active contingent listings more competitive. Many offers contain contingencies.

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