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.

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Inspection contingency Pre-approval Inspection Staging 277

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.

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Inspection contingency Pre-approval Inspection Staging 282

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.

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 140

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?

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Inspection contingency Home sale contingency Inspection Finance 101

HomeLight

AUGUST 12, 2022

Looking to sell a house “as is” in California? 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.

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HomeLight

JANUARY 14, 2022

As you run down the list of steps from appraisals to final walkthroughs, you may find yourself focusing on one item in particular: the home inspection. About 95% of purchased homes go through an inspection, and it’s a requirement for many mortgage loans — so it’s certainly an important part of the process. Windows and doors.

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Inspection Inspection contingency Renovation Agents 101

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.

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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.

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Home sale contingency Purchase and sale agreement Inspection contingency Inspection 98

HomeLight

AUGUST 16, 2021

You’ll see the term as-is when shopping for a house, but what exactly does as-is mean? Does it mean you’re about to walk into a home where the roof is falling in, or one that is occupied by a rogue family of raccoons? It can — but as-is doesn’t necessarily mean a home is unlivable or unsafe. Source: (Robin Jonathan Deutsch / Unsplash).

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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?

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HomeLight

JANUARY 12, 2024

Whether you’re just starting to explore the housing market or are in the midst of deciding whether to remove a loan contingency from an existing offer, this guide is tailored for you. We’ll also share how, as an existing homeowner, you can make a stronger non-contingent offer to get the home you want. What is a loan contingency?

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Loan contingency Loans Earnest money deposit Inspection contingency 96

HomeLight

JANUARY 3, 2024

It means the buyer and seller have agreed to the terms of the contract, such as the price, the closing date, the personal property, the earnest money, tax preparation, and contingencies.” What contingencies might be attached to ‘under contract’ listings? Get Started What does ‘under contract’ mean?

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Realty Biz

MARCH 13, 2024

Pre-approval provides a significant advantage by showing sellers you are a serious buyer with the financing ready to make a purchase. Making Competitive Offers Offering above the asking price and waiving contingencies like financing and inspections have become common tactics for winning in bidding wars.

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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.

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HomeLight

MAY 28, 2021

An example: Let’s say a property is listed as-is, and a home inspection finds a leaky roof and foundation issues. A seller may lack the resources or finances to complete repairs at the moment and doesn’t want to have that contingency to sell the home. A seller might list a home as-is for any number of harmless reasons.

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HomeLight

DECEMBER 29, 2023

As a homebuyer entering a competitive real estate market, it’s likely you’ll encounter the term “non-contingent offer.” A non-contingent offer is often seen as a bold move in residential real estate transactions, signifying an offer to buy a property without certain conditions or “ contingencies ” that must be met first.

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Realty Biz

MARCH 16, 2022

All-cash offers were found to be significantly more successful than other strategies that are commonly used in bidding wars, such as waiving the financing contingency or a pre-inspection. Another tactic that helped in bidding wars was pre-inspection, which improved a buyer’s chances by 25%.

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Realty Biz

APRIL 20, 2022

Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause. This contingency gives you a way to back out of the deal with your earnest money if the home inspector finds some serious issues.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 105

Realty Biz

JULY 25, 2023

There may still be contingencies that need to be met, such as a home inspection or appraisal. If one of these contingencies is not met, then the sale can still be halted for the specific reasons set out in the contingency. For example, a buyer might have a contingency that the home must pass a home inspection.

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HomeLight

JULY 6, 2023

Let’s sort through how potential buyers and their agents view statuses such as “real estate pending” vs. “contingent,” so you can present your home accurately and still meet your selling goals. Learn More Contingent or pending, you’re under contract! Enter the difference between “contingent” and “pending.”

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

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.

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Closing Inspection contingency Title search Purchase and sale agreement 108

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?

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Purchase and sale agreement Home sale contingency Inspection contingency Earnest money deposit 89

Windemere Buying

APRIL 12, 2023

Mortgage Lender You need financing to buy a home. Home Inspector The home inspection is key to the home buying process. Buyers will often include a home inspection contingency in their offer to allow for renegotiation or canceling the contract entirely. It takes a village to purchase a home.

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RIS Media

MAY 19, 2021

” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.”

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Purchase and sale agreement Earnest money deposit Inspection contingency Home sale contingency 98

HomeLight

JANUARY 13, 2022

You’re getting ready to call your agent to schedule a showing when you notice that the listing says the property is “active contingent.”. What on earth does active contingent mean? In this guide, we’ll take the term “active contingent listing” and break down what it means. What does active contingent mean?

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HomeLight

SEPTEMBER 9, 2020

That’s because “a buyer purchasing a home with a mortgage loan could still lose their financing, even with a solid preapproval letter. Buying a house with cash is a process, though, and it doesn’t always make sense. Still, “we love working with a cash buyer,” Ludecker says. So, a cash buyer gives sellers peace of mind. Find your house.

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Realty Biz

AUGUST 22, 2022

I didn’t even include an inspection contingency. Getting out of the signed contract and having your earnest money returned to you is typically only possible if the contingencies are not met. I’ll get into some common contingencies in a moment. Ask Brian is a weekly column by Real Estate Expert Brian Kline.

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Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 96

Windemere Selling

MARCH 14, 2022

Common Real Estate Contingencies Home Inspection Contingency A home inspection contingency allows the buyer to have the home professionally inspected within a certain window of time. If the buyer finds outstanding repairs that need to be made, they can negotiate them into their offer.

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Realty Biz

NOVEMBER 10, 2021

Is Buying a Contingent Home Possible? It can take a long time to find your perfect home, but just when you think your search is over, you might discover that it is listed as a contingent house. So can you still offer on a contingent home, or have you missed the chance to buy your perfect property? Home Inspection Discoveries.

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Purchase and sale agreement Inspection Inspection contingency Finance 127

Realty Biz

OCTOBER 12, 2021

The top regrets listed were all finance-related, including maintenance, mortgage and other costs being too high. Another big danger associated with maintenance costs is that it has become increasingly more common for buyers to waive the home inspection contingency to try and get their offer accepted.

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Realty Biz

JUNE 15, 2022

Additionally, some buyers planning to finance their purchase with a home loan are losing out to others who are able to pay entirely in cash, which is seen as a more attractive offer to a seller, since they don’t need to worry about the sale falling through in the financing stage.

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Inspection contingency Finance Inspection Staging 72

HomeLight

JUNE 29, 2021

When it comes to offers on your home, cash is king for a reason. Your sale is more likely to close and close faster with a cash offer than with an offer that hinges on a mortgage approval. While all-cash offers used to be relatively rare, they now make up 25% of all home sales. OK, but what exactly is a cash offer? Good question. Traditional buyers.

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Inspection contingency Proof of funds Inspection Pre-approval 57

HomeLight

OCTOBER 1, 2020

So as a buyer, you should have a contingency in your contract to protect you in case you can’t get proper financing for the home. Contract contingencies are used in most real estate contracts, and it’s not entirely uncommon for deals to fall through. Financing contingency. Will you lose your deposit?

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Point2Homes

DECEMBER 8, 2020

When searching for the ideal home, expect to encounter a few issues along the way, such as homes listed as contingent. But, what does contingent mean and how does it affect your purchase? A home listed as contingent means the seller has accepted an offer. How is Contingent Different from Pending? Kick-Out Clause.

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Purchase and sale agreement Backup offer Home sale contingency Short sale 145

HomeLight

MAY 17, 2022

You probably won’t be able to get an inspection of the inside of a property before bidding, as sales of foreclosure properties are often sold “as is.” You probably won’t be able to get an inspection of the inside of a property before bidding, as sales of foreclosure properties are often sold “as is.” So be prepared for disappointment.

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Redfin

JANUARY 25, 2021

Before you do, take time to consider all the potential risks and home-buying contingencies that will help protect you as a buyer. Though you can technically add any contingency you want to an offer, here are the 9 most common homebuying contingencies to consider. 1) Home inspection contingency.

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