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 112

Earnest money deposit Purchase and sale agreement Inspection contingency Inspection 112

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 265

Inspection contingency Pre-approval Inspection Rent back 265

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 277

Inspection contingency Pre-approval Inspection Staging 277

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 282

Inspection contingency Pre-approval Inspection Staging 282

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).

As-is 120

As-is Title Inspection Inspection contingency 120

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 432

Inspection contingency Inspection Renovation As-is 432

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 145

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

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 112

Inspection contingency Home sale contingency Inspection Finance 112

Realty Biz

MARCH 19, 2021

Typically, the onus has always been on the buyer to pay for the home inspection once their offer has been accepted, but that can lead to a longer wait before closing, and also negotiations over the cost of repairs if any issues with the home are surfaced. Due to this, waiving the home inspection has emerged as a common tactic among buyers.

Inspection 138

Inspection Inspection contingency Sales Closing 138

HomeLight

SEPTEMBER 30, 2020

That, or you’ve heard horror stories about the seller who attracted a great offer only to get taken to the cleaners over the inspection. With the average buyer negotiating $14,000 in savings from the inspection , your concerns are valid. Under the inspection contingency, the buyer asks you to repair it (even though you listed as is).

As-is 79

As-is Inspection contingency Inspection Investor 79

HomeLight

FEBRUARY 26, 2021

A couch with a red wine stain. An iPad with software issues. A car with a few dents and scratches. These are all items that you may see listed for sale “as is” on sites like Facebook Marketplace or Craigslist. With the addition of “as is,” the seller sends shoppers a message: Hey, you can buy this thing, and here’s the price I’m asking for.

As-is 106

As-is Sales Inspection Investor 106

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.

Inspection contingency 101

Inspection contingency Home sale contingency Inspection Residential 101

Realty Biz

AUGUST 3, 2020

markets waived the inspection contingency , compared to just 13.2% of successful offers also waived the appraisal contingency, up from 17.4% The inspection contingency allows the buyer to cancel a purchase or request repairs are made to the property following a home inspection. who did so in June 2019.

Inspection contingency 109

Inspection contingency Inspection Loans Design 109

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. Searching for a home to buy can be a time of excitement and anxiety. Can you make an offer on a home that’s under contract?

Home sale contingency 113

Home sale contingency Purchase and sale agreement Inspection contingency Inspection 113

Lighter Side of Real Estate

AUGUST 16, 2022

It wasn’t just about price; they also had to come in with as “clean” an offer as possible, which often meant waiving fairly standard contingencies. In case the term isn’t something you use in day to day life, a contingency is a clause in the contract that is in place to protect the buyer. Waiving a home inspection isn’t ideal.

Inspection 77

Inspection Inspection contingency Mortgages As-is 77

Realty Biz

FEBRUARY 25, 2021

The average home inspection can cost from $300 to $500 depending on where the home is and how big it is, but Porch.com’s study indicates that this is an investment that will save the average buyer around $14,000 in renovation costs. Redfin said last year that almost 20% of the offers submitted by its agents waived the inspection contingency.

Inspection 123

Inspection Inspection contingency Renovation Agents 123

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?

Loan contingency 108

Loan contingency Loans Earnest money deposit Inspection contingency 108

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 98

Earnest money deposit Inspection contingency Title search Inspection 98

HomeLight

AUGUST 28, 2023

You’re finally under contract on your dream home, and you’re ready to schedule the home inspection. The inspection is an essential piece of the homebuying puzzle, as it gives you an objective view into the condition of your new home. But, it also can also be an intimidating and stressful step. Find Agent What is a home inspector?

Inspection contingency 98

Inspection contingency Inspection Agents As-is 98

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?

Purchase and sale agreement 110

Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 110

Realty Biz

FEBRUARY 25, 2022

These costs may not have been such a worry before, but with many buyers waiving the home inspection contingency with the housing market so competitive, they could be in for a big surprise, Wilson said. An unlucky 10% faced repair costs exceeding $5,000 in their first year. For example, furnaces usually last 15 to 20 years.

Inspection contingency 95

Inspection contingency Inspection As-is Marketing 95

Realty Biz

SEPTEMBER 23, 2020

But while waiving the property inspection always used to be about making an offer more enticing and stand out in a bidding war, these days that’s not always the reason why buyers are offering it. s largest markets waived the inspection contingency, for example.

Inspection 114

Inspection Inspection contingency Commercial Residential 114

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. The second-most effective strategy was waiving the financing contingency, though it was a lot less so, as it only improved a buyer’s chances by 31%.

Inspection contingency 86

Inspection contingency Inspection Finance Closing 86

HomeLight

SEPTEMBER 9, 2020

You’ll also avoid the additional expense of mortgage insurance , and you’ll save thousands (often tens of thousands) of dollars on interest; the average homeowner can easily pay over $100,000 in interest over the life of a 30 year mortgage. Buying a house with cash is a process, though, and it doesn’t always make sense. Get the cash together.

Inspection contingency 111

Inspection contingency Proof of funds Inspection Title 111

Realty Biz

DECEMBER 31, 2020

Ask Brian is a weekly column by Real Estate Expert Brian Kline. If you have questions on real estate investing, DIY, home buying/selling, or other housing inquiries please email your questions to askbrian@realtybiznews.com. Answer: Hello Bethanny. There is never a crystal ball but contemplating the near-term future is time well spent.

Inspection contingency 112

Inspection contingency Inspection Closing Loans 112

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 136

Purchase and sale agreement Inspection contingency Earnest money deposit Home sale contingency 136

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 104

Purchase and sale agreement Home sale contingency Inspection contingency Earnest money deposit 104

Realty Biz

APRIL 20, 2022

Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. 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. Help From the Seller.

Purchase and sale agreement 106

Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 106

Realtor.com

JANUARY 4, 2023

Inventory levels are still low, but there are more homes coming on the market; the bidding wars and mind-boggling offers over the asking price have died down; and buyers can once again insist on inspections, contingencies, and repairs before the deal closes. Realtor.com / Getty Images Q: Is 2023 the year to finally buy a home?

Inspection contingency 133

Inspection contingency Pre-approval Mortgages Inspection 133

Windemere Buying

APRIL 12, 2023

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. Here are ten important people to keep in mind during the process of buying a home.

Pre-approval 103

Pre-approval Inspection contingency Title Inspection 103

RIS Media

AUGUST 31, 2021

According to the report, 27% of buyers bypassed appraisal and inspection contingencies in July. Even in a somewhat calmer market, a number of potential buyers are still choosing to waive appraisals and inspections.” Regional Breakdown: Northeast . MoM — Now 92.0 West. +1.9% ” — Lawrence Yun, NAR Chief Economist.

Sales 106

Sales Inspection contingency Inspection Industrial 106

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.” Pending Meaning.

Purchase and sale agreement 98

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

Realty Biz

OCTOBER 12, 2021

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. According to the NAR, 23% of buyers waived inspections in August. Doing so can lead to expensive, unexpected repairs later.

Inspection contingency 108

Inspection contingency Closing costs Inspection Closing 108

RIS Media

AUGUST 5, 2021

A buyer who is interested in a property typically visits it in person to inspect its layout, features and condition. Before buying any house, you should have it inspected so you know if it has major problems, such as a cracked foundation or a leaky roof. A home inspection is even more critical when buying a property sight unseen. .

Inspection contingency 98

Inspection contingency Inspection Agents As-is 98

Realty Biz

JULY 7, 2021

You can include a contingency for almost anything but the more conditions that the seller must meet the less likely the seller is to accept your offer. One contingency that is almost always wise to include is a home inspection to be sure you aren’t buying a major problem that you aren’t aware of. Include an escalation clause.

Inspection contingency 88

Inspection contingency Marketing Inspection Rent back 88

Realty Biz

DECEMBER 5, 2022

One of the most vital phases of buying a house is having it inspected. Home inspections over the last few years were few and far between. The crazy hot seller's market forced many home buyers into forgoing their inspection. Let's look at what you need to know about home inspection negotiations.

Inspection 137

Inspection Earnest money deposit Purchase and sale agreement Inspection contingency 137

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.

Inspection contingency 62

Inspection contingency Proof of funds Inspection Pre-approval 62