Remove As-is Remove Banks Remove Due diligence Remove Inspection contingency
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Do the Due: A Complete Due Diligence Guide and Checklist for Homebuyers

HomeLight

As a buyer, that means you have to do your due diligence from both a practical and contractual perspective. What does due diligence mean in residential real estate? That’s why we’ve put together this guide to due diligence for a homebuyer. Free Homebuying Due Diligence Checklist. And it’s true!

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13 Steps to Buying a Bank-Owned Foreclosure

HomeLight

If that’s you, you may have heard that one path to a deal is buying a bank-owned foreclosure. There are pros and cons to consider when going this route, however, such as the fact that bank-owned properties often need more TLC than other homes on the market, and many are sold as-is. What’s a bank-owned foreclosure?

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The Most Common Home Buying Real Estate Contingencies

Realty Biz

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. Most buyers will have a home inspection contingency in their contract.

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What’s the Deal with Making a Cash Offer on a House?

HomeLight

From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. The associated contingencies , which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan.

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Tips for Buying a Foreclosure Property

Point2Homes

This should show you how much you can afford to spend on mortgage payments and reveal how much a bank is likely to lend to you. Image: Andy Dean Photography / Shutterstock.com. If your ability to afford the mortgage payments on the home you want to buy is causing you concern, buying a foreclosure home may make a lot of sense.

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From Contract to House Keys: Breaking Down the House Closing Process

HomeLight

You still have to make it through the house closing process, where inspections , credit problems, or paperwork issues can trip you up. The lender needs to do their due diligence on the property you’re buying, too. Reputable lenders do due diligence before they give a preapproval letter,” Maggio says.

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10 Things to Know About the ‘Sale Pending’ Phase, aka House Closing Limbo

HomeLight

A kick-out clause gives you the right to continue showing the home during the contingency period. 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. What does “sale pending” mean? You’re locked into the contract once you sign.

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