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Tips for Buying a Foreclosure Property

Point2Homes

Getting Pre-Approved. It’s always advisable to get pre-approved for a mortgage in any home purchase so you can make sure that you can actually get the loan that you believe your income justifies. Image: Andy Dean Photography / Shutterstock.com. Getting the Right Help.

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Common Real Estate Contingencies

Windemere Selling

When selling your home, a buyer may make their offer with contingencies attached. Here are some common contingencies you might see in a buyer’s offer and what they mean for you. If the seller chooses not to make the repairs outlined in the buyer’s home inspection report, the buyer can cancel the contract.

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Making a Contingent Offer: Common Real Estate Contingencies

Windemere Buying

Contingencies protect buyers and sellers against these natural characteristics of the home buying process and any problems that may arise before a home sale is finalized. To sweeten their offers in such market conditions, buyers will typically waive their contingencies. Common Real Estate Contingencies. Financing Contingency.

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What Happens After Making an Offer on a House?

Windemere Buying

Prepare for counteroffers ahead of time with your agent by discussing your price limit , how much you’re willing to budge on your contingencies, your flexibility around closing dates, etc. Before closing, any contingencies attached to the offer must be met. This is an indication that your offer has piqued the seller’s interest.

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Find Out What Really Happens When You Waive Contingencies to Score a Home

Realtor.com

But as the housing market has rebounded , buyers are getting competitive —more and more are waiving those contingencies, or protections, in order to speed the deal through to closing. So getting those pesky contingencies out of the way is a win-win, right? You won’t need the lender, so you won’t need this contingency.

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What Does Contingent Mean in Real Estate Sales

Realty Biz

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. 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.

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4 signs a pending home sale will fall through

Real Trends

Inspection issues. An inspection can often reveal major issues that either side would not have been aware of. Whatever side you are on, being aware of inspection issues and how to work with them will be paramount in increasing your close rate. Before a mortgage is approved, lenders will have a property appraisal.

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