HomeLight

JANUARY 26, 2024

For this reason, most contracts contain an inspection contingency clause. But what happens if the inspection contingency expires? If this contingency period lapses before you’ve finalized your decisions, will you lose your deposit? Get Started How does an inspection contingency work?

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HomeLight

MARCH 30, 2021

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

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HomeLight

MAY 28, 2021

But there are protections in place that are designed to prevent the sale of a “lemon” house equivalent. Basic home inspections don’t cover everything , though. In a fast-paced seller’s market, sometimes buyers will forgo an inspection contingency in order to make their offer more attractive to the seller.

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HomeLight

OCTOBER 29, 2021

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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HomeLight

MAY 28, 2021

However, it’s vital to do your due diligence before buying a home as-is to protect yourself or you might just end up wasting your investment on a money pit. An example: Let’s say a property is listed as-is, and a home inspection finds a leaky roof and foundation issues. Source: (Max Murauer / Unsplash).

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HomeLight

MARCH 13, 2023

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