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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Inspection contingency Inspection Earnest money deposit Due diligence 94

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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Purchase and sale agreement Inspection contingency Earnest money deposit Home sale contingency 135

Realty Biz

NOVEMBER 11, 2020

For example, if a home sale is contingent or pending, can you still make an offer? Let’s take a closer look at the meaning of contingent , so you can see how it might affect a home you are looking to buy. For example, some agents will mark your home contingent, while others will mark pending. What does Contingent Mean?

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Backup offer Sales Home sale contingency Earnest money deposit 110

HomeLight

JULY 26, 2022

Knowing that they will save money by not paying the listing agent’s commission, a seller might list their home at a lower price than they would if they had hired an agent. When both parties work with agents, you’ll likely go through them to schedule showings, inspections, appraisals, and offer submissions. Is it a yard sale?

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Earnest money deposit Purchase and sale agreement Title Inspection 97

HomeLight

OCTOBER 30, 2020

And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. Suddenly, you have less money than you realized. Another issue that can come up is when a buyer wires money to the wrong account (imagine the horror!).

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HomeLight

AUGUST 9, 2022

With the help of real estate experts, we’re breaking down all the details for how much you should pay and when the down payment is due. When is the down payment due? But that doesn’t mean the money will leave your account just yet. To make a long story very short, your down payment is officially due at the time of closing.

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Earnest money deposit VA loan Purchase and sale agreement FHA loan 94

HomeLight

OCTOBER 29, 2020

And that’s before buyers even start thinking about steps like making a contingent offer. This means buyers need to come prepared with enticing offers and the capacity to quickly follow through, and nothing can sideline an otherwise stable deal like tricky contingencies. What is a contingent offer? Negotiable contingencies.

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Purchase and sale agreement Pre-approval Earnest money deposit Inspection 79