Redfin

JULY 2, 2025

The below are common reasons that buyers back out of a home sale: Home inspection: If a professional home inspection uncovers structural defects, mold, pest infestations, or safety hazards, the buyer can invoke the inspection contingency. Financing: Even with pre-approval, buyers might fail to secure a mortgage.

Purchase and sale agreement

Redfin

JUNE 23, 2025

You can schedule inspections, review the title, secure an appraisal, and check for any red flags that could affect your decision to buy. It’s a crucial period to verify the property’s condition, ensure it meets expectations, and meet any financing requirements set by the lender. What happens in the due diligence period?

Due diligence

Redfin

JULY 10, 2025

Earnest money is a refundable deposit held in escrow to show your serious intent to buy, while due diligence fees are usually non-refundable payments made directly to the seller to secure time for inspections and evaluations. Whether earnest money is refundable depends on the contingencies in the purchase agreement. Is it refundable?

Due diligence

Redfin

JULY 16, 2025

Key takeaway: Once a home is under contract, the seller is legally bound to the agreement and cannot accept another offer – unless specific clauses or contingencies allow it. Under contract stage: Once under contract , the primary buyer is locked in unless contingencies fail. Generally, no.

Backup offer

The Close

MARCH 11, 2025

This process involves multiple stages, starting with identifying an FSBO listing to securing appropriate financing and completing the closing procedures. Weve identified six steps for how to find for sale by owner homes, along with the advantages and disadvantages of navigating the FSBO process without a real estate agent involved.

Sales

Redfin

JUNE 27, 2025

These can greatly affect both the quality of your purchase and your bottom-line expense. You’ve saved for a down payment and spent more time scrolling through listings than you’d like to admit. One thing is clear; you’re ready to dive into homeownership. In this article, we’ll outline 17 common mistakes for first-time homebuyers.

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

Home Inspections A home inspection is one of the most vital aspects of purchasing a home. If you made an offer and then found there were significant structural problems, you would be in trouble without a home inspection contingency. This is achieved through an earnest money house deposit. Let’s take a look.

Earnest money deposit

Redfin

MARCH 18, 2025

Understanding how earnest money works can help you feel more confident as you move through the homebuying process. This Redfin article will break down exactly what happens to your earnest money at closing, and what to expect in different scenarios. What is earnest money? Think of it as a good-faith payment that tells the seller youre committed.

Closing

Redfin

MARCH 4, 2025

From finding houses to tour and what financing options you have, theres a lot to learn about buying a home in foreclosure. That means there’s no home inspection or appraisal. If the auction accepts financing, make sure you have a pre-approval ready. What is foreclosure? Why buy a foreclosed home?

Pre-approval

Redfin

JULY 9, 2025

It’s also a good time to check your finances. Decide on important terms like earnest money deposits, contingencies (inspection, financing), and closing dates that can make your offer stand out. Make sure you’ve paid down your credit cards and that your credit score is in good shape. What is your commute tolerance?

Pre-approval

Redfin

JUNE 17, 2025

This delay is the result of the due diligence period, where the buyer will conduct inspections and other research before actually signing any papers. For example, if the home inspection reveals extensive repairs, the buyer may be able to terminate the agreement due to a home inspection contingency.

Closing

Redfin

JUNE 17, 2025

The short answer to whether you should accept a contingent offer on your house is that it depends. If you haven’t had a ton of offers, it’s okay to accept a contingent offer as there’s no real drawback aside from the deal potentially falling through. In this article: What is a contingent offer?

Inspection contingency

Redfin

JULY 21, 2025

If you’re having doubts, want to reassess your finances, or simply change your mind, doing so before any paperwork is signed allows for a clean exit without risking earnest money or triggering legal consequences. Common contingencies include: Financing contingency: Protects buyers if they can’t secure a mortgage loan.

Earnest money deposit

Redfin

JULY 11, 2025

Whether you get it back depends on the terms of your purchase agreement, the contingencies included, and why the deal didn’t close. Buyer is unable to secure financing A financing or mortgage contingency protects buyers if they’re unable to get approved for a home loan. When is earnest money refundable?

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

Are your finances ready to buy a home, or will you be better off renting for a few more years? Home Inspection The home inspection will show if this is a property you want to buy. If major issues are highlighted in the inspection report, you can negotiate with the seller over repairs, or they could credit you.

Purchase and sale agreement

Rochester Real Estate

NOVEMBER 5, 2015

Should I Have A Home Inspection When Buying A House Buying a home is a significant investment and one you want to be happy with. One of them is the home inspection, and it’s not a great idea to waive it. The reality is that some homebuyers are waiving their home inspection. Yes, they move the home buying process along faster.

Inspection

HomeLight

FEBRUARY 20, 2025

As of December 2024, 18% of buyers waived the appraisal contingency , with other buyers waiving, for example, inspection contingencies to likewise make their offers more enticing to sellers. The appraisal contingency is there to protect the buyer in case of any issues surrounding your appraisal. What is a contingency?

Inspection contingency

Rochester Real Estate

NOVEMBER 5, 2015

Top Frequently Asked Questions From Home Sellers It’s known that the home buying process comes with many frequently asked questions and the home selling process is no different. Whether you have never sold a home or have sold half a dozen, there are many questions that come with the process. How is the real estate market right now?

Purchase and sale agreement

Keeping Current Matters

NOVEMBER 30, 2020

Understand Your Finances. There are, however, certain contingencies you don’t want to forego. Freddie Mac explains: “ Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Make a Fair Offer. Bottom Line.

Inspection contingency

Keeping Current Matters

MARCH 15, 2021

Understand Your Finances. Freddie Mac explains that there are, however, certain contingencies you don’t want to forego: “ Resist the temptation to waive the inspection contingency , especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Make a Fair Offer.

Inspection contingency

Housing Wire

FEBRUARY 20, 2024

A housing market marked by relatively high interest rates and tight inventory — and punctuated by the practice of home inspection waivers to sweeten offers — are taking a bite out of business for home inspectors, who play a key role in the sales process by ensuring that buyers are not being sold a lemon of a house. and Canada.

Inspection

HomeLight

OCTOBER 30, 2020

Selling a house “as is” without inspection is the definition of driving a hard bargain. As for whether you can sell a house as is without inspection — the answer is yes, it’s possible and does happen. Why ‘as is’ doesn’t always mean no inspection. However, a buyer could still include an inspection contingency in the contract.

Inspection

HomeLight

DECEMBER 29, 2023

Looking to sell a house “as is” in Missouri? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. It’s a seller’s market, and they strongly prefer an “as is” sale,” she adds. Is a real estate attorney required? Real estate transfer taxes?

As-is

HomeLight

JUNE 9, 2023

But as your eyes scan the details of the listing, you come across a term that makes you pause: “Contingent.” ” So, what does contingent mean in real estate? A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet.

Home sale contingency

HomeLight

AUGUST 24, 2022

Looking to sell a house “as is” in Connecticut? Whether you’ve got a fixer-upper or recently inherited a relative’s home, sometimes the goal is to skip repairs, get a fair offer, and move on. However, selling a house “as is” usually means accepting a lower offer and it doesn’t always prevent buyers from trying to negotiate savings. Disclosures.

As-is

HomeLight

JANUARY 31, 2024

Contingent listings can be puzzling and sometimes frustrating — especially when you’re searching for your dream home. In this post, we’ll unpack real estate contingencies, clarify the difference between contingent vs. pending, and explain how long a house might remain labeled as contingent. Why Move Twice?

Purchase and sale agreement

The Close

AUGUST 6, 2024

As their agent, you must also know how to protect your clients through the as-is selling process and understand the nuances such as navigating inspections and disclosures. As their agent, you must also know how to protect your clients through the as-is selling process and understand the nuances such as navigating inspections and disclosures.

As-is

HomeLight

JANUARY 10, 2024

Most purchase agreements are contingent on two key items: home inspection and financing. As a homebuyer, knowing what these contingencies mean for you and the seller can help you make decisions with more confidence and avoid unexpected surprises and pitfalls. Get Started What does contingent mean when buying a home?

Earnest money deposit

Realtor.com

OCTOBER 29, 2020

Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. It’s rarely advisable to waive an inspection contingency. Clear the title.

Closing

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.

Purchase and sale agreement

HomeLight

OCTOBER 30, 2020

A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. 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. Financing issues. Because it’s fast.

Closing

HomeLight

SEPTEMBER 6, 2024

Part of the complexity of real estate transactions is that they can involve contingencies — conditions that parties add to an agreement that have to be met before the deal can be finalized. In particular, you may be wondering: what is an appraisal contingency, and why is it important? Get Estimate First, what is an appraisal?

Inspection contingency

HomeLight

FEBRUARY 6, 2024

You’ve been searching for a home to buy, and you come across a property you love only to see it’s labeled as “contingent.” ” or even, “Can you make an offer on a contingent house?” Learn More What does contingent mean on a house listing?

Inspection contingency

HomeLight

DECEMBER 30, 2023

What buyer contingencies might put a listing back on the market? While under contract, there are typically contingencies in the buyer’s offer that need to be resolved before the sale moves forward. If the buyer fails to secure financing, they can withdraw without losing their deposit. Sellers are often wary of this clause.

Home sale contingency

HomeLight

NOVEMBER 8, 2024

We’ll also share tips on how you can make a strong, non-contingent offer so you’re not stuck in the pending zone. Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want.

Inspection contingency

HomeLight

NOVEMBER 29, 2021

But first, you have to sell your old home, potentially secure financing, and secure a home appraisal (and likely an inspection) on your new house. Most purchase agreements have some terms in place that must be met for the deal to go through, such as having a home inspection completed. Do contingencies benefit homebuyers?

Purchase and sale agreement

Norada Real Estate

APRIL 15, 2023

Purpose of Under Contract The purpose of the under-contract period is to allow both parties to fulfill any contingencies and prepare for closing. However, the duration can be influenced by several factors, such as contingencies, negotiations, and local regulations. But how long can a house be under contract?

Earnest money deposit