Redfin

MARCH 4, 2025

Step 3: Cut back on contingencies Contingencies are designed to protect you, but sellers dislike them because they give you the opportunity to back out of the deal. In a competitive situation, you can ask to do a pre-inspection of the home. So when the time comes to make an offer, you’ll need to know the steps.

Pre-approval

Windemere Buying

MAY 19, 2025

The agreed-upon contingencies included in the contract define what happens if something doesnt go as planned. Contingencies present a spectrum of options to home buyers, allowing them to walk away from a real estate transaction with their earnest money intact or renegotiate the contract.

Home sale contingency

Redfin

JULY 14, 2025

When that breach isn’t protected by a contingency, the seller may have the right to keep the earnest money as compensation for lost time and missed opportunities. Example scenario: The buyer waives the inspection contingency to make their offer more competitive. When does the buyer get earnest money back?

Earnest money deposit

Lab Coat Agents

JULY 31, 2025

Whether you’re a solo agent or managing a growing team, here’s how VAs can support and strengthen your real estate systems and processes:  1. CRM Management and Data Entry  One of the most important tools for real estate agents is their CRM (Customer Relationship Management) system. However, maintaining it can be time-consuming.

Pre-qualification

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. Due diligence money is paid to the seller, usually non-refundable, and compensates them for taking the home off the market during inspections. Table of contents What is due diligence in real estate?

Due diligence

Rochester Real Estate

NOVEMBER 5, 2015

There are numerous reasons to have an inspection. If you use a home inspection checklist, you might find things to mention to your home inspector. The Importance of Home Inspections It is vital to have a home inspection even if you found nothing concerning when going through this checklist. Do the light switches work?

Inspection

Lighter Side of Real Estate

JULY 9, 2025

For a while now, buyers were waiving their inspection contingency just to stay competitive in bidding wars in many markets. While waiving inspections still happens in some areas and price points, it’s no longer the default move for every buyer. In fact, doing a home inspection is far more common than skipping one.

Inspection

Redfin

JULY 21, 2025

The buyer’s agent requests a pre-inspection Signs a showing went well FAQs 1. Their agent asks follow-up questions or requests more details 8. They inquire about timeline 9. The showing lasts longer than expected In real estate, time is often a quiet but powerful signal. or “What’s the average utility bill?”, or “What are the schools like?”

Pre-approval

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

Redfin

AUGUST 5, 2025

If there’s a lot of competition for that home you just can’t stop thinking about, making a clean, non-contingent  offer on a home  could work in your favor. But first, learn what contingencies are, why it’s risky to waive them and how you can use them to your advantage. What is a contingency? They need to be flexible.

Earnest money deposit

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

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

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

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

JUNE 25, 2025

Buying a home is an exciting adventure but it often comes with surprises during the property inspection. From sneaky leaks to electrical quirks, the most common home inspection problems include structural damage, roof and plumbing issues, outdated electrical panels, HVAC concerns, water damage, termites, safety hazards, and drainage problems.

Inspection

Redfin

JULY 9, 2025

Decide on important terms like earnest money deposits, contingencies (inspection, financing), and closing dates that can make your offer stand out. During this time, your lender will finalize your mortgage, the home will be appraised and inspected, and a title search will be conducted. 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

MARCH 4, 2025

That means there’s no home inspection or appraisal. Buying a home comes with many decisions, and one option worth considering is purchasing a foreclosed property. These homes are often priced lower than comparable listings , making them an appealing choice for buyers looking for value or investment opportunities. What is foreclosure?

Pre-approval

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

MARCH 7, 2025

One of the most common questions that come up during this phase is: who pays for the home inspection? In this Redfin article, well break down who pays for the home inspection and answer other common home inspection questions. What is a home inspection? A home inspection is a thorough evaluation of a propertys condition.

Inspection

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

Redfin

JULY 21, 2025

These include contractual protections like contingencies, state-specific allowances like the option period, and financial repercussions such as forfeiting earnest money. These include contractual protections like contingencies, state-specific allowances like the option period, and financial repercussions such as forfeiting earnest money.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

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. If you have an inspection contingency, you can back out of your purchase if serious problems are found.

Purchase and sale agreement

The Close

MARCH 11, 2025

Step 1: Select Your Target Area The location of an FSBO property is a significant factor to consider when starting the buying process. During this time, investors should evaluate neighborhood factors, such as location, price, amenities, and educational rankings, that add to the areas general aesthetics.

Sales

Rochester Real Estate

NOVEMBER 5, 2015

Skipping A Full Professional Home Inspection Due to the current state of many real estate markets, many homebuyers are electing to waive their home inspection. Skipping A Full Professional Home Inspection Due to the current state of many real estate markets, many homebuyers are electing to waive their home inspection.

Inspection

Redfin

AUGUST 4, 2025

A professional home inspection will reveal potential issues such as roof damage, plumbing problems, or outdated systems. Never skip the inspection — it’s one of your best tools in determining how to negotiate real estate price with confidence. Do your homework before you make an offer Negotiation begins long before you submit an offer.

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

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

Redfin

AUGUST 5, 2025

In a multiple-offer situation, sellers look at a number of different variables between offers, from inspection timelines to appraisal guarantees, to financing terms. If your piggy bank is full and it’s time for a move, you could have an opportunity to buy a house with cash. However, there are drawbacks as well. Can you buy a house with cash?

Earnest money deposit

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

HomeLight

APRIL 25, 2025

Since the buyer already has funds in hand, theres no waiting on mortgage approvals or worrying about inspection contingencies. Sell Your House Fast in Maricopa With a Cash Offer Get an all-cash, no-obligation offer through HomeLights Simple Sale platform whenever youre ready. No showings, no repairs, no open houses.

Inspection contingency

Housing Wire

OCTOBER 27, 2020

Some are waiving inspection contingencies, while others are avoiding repair requests, opting to handle home repairs, fixes and upgrades as needed later on. While this approach could certainly help buyers win out in a bidding war, the strategy also comes with some serious risk — especially if the home inspection is skipped.

Inspection contingency

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?

Inspection contingency

Keeping Current Matters

NOVEMBER 30, 2020

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. Understand Your Finances. Make a Fair Offer. Bottom Line.

Inspection contingency

Keeping Current Matters

MARCH 15, 2021

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. Understand Your Finances. Make a Fair Offer. Bottom Line.

Inspection contingency

Keeping Current Matters

JUNE 21, 2021

Just remember, there are 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. Brace for a Fast Pace. Lean on a Real Estate Professional.

Inspection contingency