First Team Real Estate

AUGUST 8, 2021

of offers faced bidding wars. The best offer is accepted, and the deal moves forward. The only way around re-listing is to accept backup offers, so during the planning phase of your home sale, talk to your listing agent about the pros and cons of backup offers. What is a backup offer?

Backup offer

Realtor.com

JANUARY 12, 2021

While laws vary by state, in general, up until that contract is signed by both parties—even after counteroffers have been sent out—all new offers can be considered and accepted. That’s why it’s so important that sellers are confident that they want to accept an offer before signing. Here’s what home sellers need to know.

Backup offer

Realtor.com

APRIL 9, 2021

In most cases, a property is listed as “under contract” once a buyer has made an offer and the seller has accepted. These contingencies often include financing, a home inspection , home appraisal , and sometimes the sale of the buyer’s current home. ” But what does “under contract” mean?

Backup offer

Point2Homes

DECEMBER 8, 2020

A home listed as contingent means the seller has accepted an offer. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. Up until this time, the home can continue to be shown to other potential buyers and offers can still be accepted. Kick-Out Clause.

Purchase and sale agreement

Realty Biz

SEPTEMBER 14, 2021

Before finalizing the deal, certain conditions ( like a completed property inspection) must take place. 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?

Backup offer

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.

Backup offer

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. Buyers also can use the findings of an inspection to negotiate for repairs or credits. Step one: Talk to an expert! Selling your house soon?

MLS

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. Home Inspection Contingency.

Backup offer

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. Home inspection problems. Here’s all you should know about contingent sales as a potential home buyer. Low appraisal.

Debt-to-income ratio

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? Such contractual obligations can include both sides not agreeing on a request for repairs after an inspection, says Peters. The post Can You Show Your Home With an Offer on the Table? Not so fast!

Backup offer

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. Things that could derail a sale during the sale pending period include: The home inspection. What does “sale pending” mean? The property appraisal.

Closing

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. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. ” Step one: Talk to a few buyer's agents!

Home sale contingency

HomeLight

NOVEMBER 8, 2024

Can you still make an offer? We’ll also share tips on how you can make a strong, non-contingent offer so you’re not stuck in the pending zone. In real estate, “pending” means a seller has accepted an offer, and the property is under contract , but the sale hasn’t yet closed. Can a buyer make an offer on a ‘pending’ house?

Inspection contingency

HomeLight

JANUARY 5, 2022

It’s not unheard of for sellers to receive higher offers after signing a purchase agreement and want to back out of the contract. Typically, the seller’s agent stops accepting offers once the home is pending sale. However, it’s often a good idea to table backup offers, which may come into play if the sale falls through.

Purchase and sale agreement

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?

MLS

HomeLight

SEPTEMBER 16, 2022

Before inspections, you may fear the state of the home or the seller’s willingness to negotiate repairs if the home needs serious work. The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. If you don’t know what you want, the line disappears too quickly.

Option period

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.

Backup offer

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. Buyers are waiving a home inspection. Buyers are waiving their home appraisal or offering an appraisal gap guarantee.

Pre-approval

Realty Biz

JUNE 30, 2021

You’ll be viewing properties online, talking to agents, touring houses, and making offers even when you think someone else will make a better offer. But you never know when your backup offer might be the one that goes to the closing table. There will almost certainly be other offers within the first few days.

Backup offer

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. Common real estate contingencies include the following: Inspection Contingencies. The most common contingency is the home inspection contingency. This indicates that it’s available for showings.

Purchase and sale agreement

First Team Real Estate

MAY 14, 2021

Brandice and her team go to bat for their clients on everything from preferred timeline, inspections, closing costs, backup offers, repairs, and so much more. Here’s how The Presley Group saves their clients more money than Zillow, helping homeowners sell for top dollar within Seal Beach and all of Southern California.

Backup offer

Realty Biz

JULY 25, 2023

There may still be contingencies that need to be met, such as a home inspection or appraisal. For example, a buyer might have a contingency that the home must pass a home inspection. If the home fails the inspection, the buyer can back out of the sale. Let’s take a closer look. However, the sale is not yet final.

Sales

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.

Purchase and sale agreement

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?

Backup offer

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.

Backup offer

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. One of the biggest risks associated with this type of offer is when there are two or three home purchases that are all contingent on the sale of another property.

Backup offer

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?

Backup offer

HomeLight

MARCH 20, 2023

Find a Top Agent With Experience in Home Sale Contingency Offers If you are considering a home sale contingency, you’ll want a top agent by your side when you make the offer. A home sale contingency is one of many contingencies that a buyer could choose to include in their purchase offer.

Home sale contingency

HomeLight

JUNE 29, 2022

Getting the highest possible offer for the property (even if it requires some additional work and money to prepare the property for sale). As interest rates start increasing, as they are right now in 2022 , sellers may not have as many backup offers to consider as they would when rates were low. Single Family Homes.

Earnest money deposit

HomeLight

JUNE 28, 2022

To better answer your questions, we spoke with top-performing agents Rick Ruiz , who sells homes nearly 50% quicker than the average Las Vegas agent; and Robert Dombrowsky , who works with over 85% more single-family homes than the average Fair Lawn, New Jersey agent. In real estate, it’s not about the name on the front of your jersey.

Purchase and sale agreement

HomeLight

DECEMBER 30, 2021

After being under the microscope at open houses and inspection, you may wonder: What’s the point of this final examination? In addition, the Appraisal Institute offers its advanced credentialing of members such as MAI, SRPA, SRA, AI-GRS and AI-RRS designations in residential real estate. You’re ready to move on.

Loans

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?

Short sale

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.

Backup offer

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.

Backup offer

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.

Brokerage

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.

Purchase and sale agreement

HomeLight

OCTOBER 5, 2020

Listen as we discuss the five parts of an offer (and which one matters most in today’s market), the three C’s of winning bidding wars (confidence, communication, and creativity), and how to get clues from the listing agent that will help your buyer win. Fortunately, there’s more to winning a multiple offer situation than just math.

Agents