HomeLight

SEPTEMBER 30, 2020

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender.

Short sale 96

Short sale Closing costs Closing Sales 96

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.

Purchase and sale agreement 145

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

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Easy, right?

Closing 109

Closing Purchase and sale agreement Title search Earnest money deposit 109

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. Many offers contain contingencies.

Backup offer 73

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 73

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.”

MLS 89

MLS Backup offer Inspection contingency Purchase and sale agreement 89

HomeLight

JULY 29, 2022

You can avoid getting into this situation by avoiding making other big purchases or applying for other loans once you are approved for a mortgage and under contract. First, when deciding to purchase a home, you’ll naturally try to make sure you’re at a stable point in your career. What can go wrong on the buyer’s side at closing.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

OCTOBER 29, 2020

And that’s before buyers even start thinking about steps like making a contingent offer. This means buyers need to come prepared with enticing offers and the capacity to quickly follow through, and nothing can sideline an otherwise stable deal like tricky contingencies. What is a contingent offer? Negotiable contingencies.

Purchase and sale agreement 78

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 78