Keeping Current Matters

MARCH 15, 2021

The expertise your agent brings to this part of the process will help you stay competitive: “Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”. Here are five tips for success in this critical stage of the homebuying process.

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HomeLight

FEBRUARY 26, 2021

These are all items that you may see listed for sale “as is” on sites like Facebook Marketplace or Craigslist. So how do “as is” sales in furniture and retail translate to “as is” sales in real estate? A couch with a red wine stain. An iPad with software issues. A car with a few dents and scratches.

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Keeping Current Matters

NOVEMBER 30, 2020

The expertise your agent brings to this part of the process will help you stay competitive: “Your agent will work with you to make an informed offer based on the market value of the home, the condition of the home and recent home sale prices in the area.”. There are, however, certain contingencies you don’t want to forego. Bottom Line.

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Inspection contingency Pre-approval Inspection Staging 282

Realty Biz

JULY 25, 2023

When you're looking to buy a home, you'll likely come across the terms "under contract" and "pending sale." This means that it’s crucial to understand the difference between a pending sale and an under contract and what they mean for a buyer or a seller. This means that the buyer and seller have agreed on the terms of the sale.

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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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HomeLight

AUGUST 16, 2021

Sometimes it’s just certain components, which will generally be flagged as the as-is part of the sale. 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?

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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?” You can then make a strong offer on your next home with no home sale contingency.

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Inspection contingency Home sale contingency Inspection Finance 111

RIS Media

AUGUST 31, 2021

NAR’s Pending Home Sales Index (PHSI), a forward-looking indicator of home sales based on contract signings, showed a 1.8% According to the report, 27% of buyers bypassed appraisal and inspection contingencies in July. The post NAR: Cooldown Persists as July Pending Home Sales Dip 1.8% MoM — Now 92.0

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Sales Inspection contingency Inspection Industrial 107

Realty Biz

MARCH 19, 2021

Homeowners who’re looking to secure a quick sale might want to take it upon themselves to do a pre-listing home inspection with the aim of speeding up the sales process. Sellers that opt for a pre-listing inspection will be informed of any issues with their home that might impact its value.

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HomeLight

DECEMBER 30, 2023

You may be building an online watchlist of homes you’re interested in seeing, but then you notice a label tagging your favorite property listing as “under contract” or “sale pending.” What buyer contingencies might put a listing back on the market? What buyer contingencies might put a listing back on the market?

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Home sale contingency Purchase and sale agreement Inspection contingency Inspection 111

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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Inspection contingency Home sale contingency Inspection Residential 98

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. you need to protect your sale price from sinking. With the average buyer negotiating $14,000 in savings from the inspection , your concerns are valid. I’m selling this house as is.”

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Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

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HomeLight

JANUARY 3, 2024

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 109

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.

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Inspection Inspection contingency Renovation Agents 126

HomeLight

MARCH 31, 2022

But one of the most influential bargaining tools is eliminating contingency clauses, especially the seller contingency clause, also known as the home sale contingency. What is a contingency clause? Let’s begin by looking at the “what” and “why” of contingency clauses. Source: (Masjid MABA / Unsplash).

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 92

Real Trends

DECEMBER 27, 2022

How often does a pending home sale fall through? A pending sale may be referred to as “under contract” by some real estate agents. A sale is considered pending until the seller formally accepts an offer from a buyer. A sale is considered pending until the seller formally accepts an offer from a buyer. Inspection issues.

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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 sales 101.

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Norada Real Estate

APRIL 15, 2023

Definition of Under Contract The term “under contract” refers to the period after a seller accepts a buyer's offer, but before the sale is finalized at closing. Purpose of Under Contract The purpose of the under-contract period is to allow both parties to fulfill any contingencies and prepare for closing.

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Redfin

JANUARY 26, 2022

One of these important pieces of paperwork is a purchase and sale agreement. . To help you navigate this document, we’ll go over what a purchase and sale agreement is, what makes up the agreement, and what happens after the agreement is signed. What is a purchase and sale agreement? Who drafts the purchase and sale agreement? .

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Purchase and sale agreement Earnest money deposit Sales Title 59

Realty Biz

JANUARY 9, 2024

From preparing your home for sale to negotiating offers, these tips will ensure a successful sale. Sometimes it stops their sale dead in its tracks until the errors are corrected. Understand the current market conditions, including recent sales, average time on the market, and pricing trends. Things have evened out.

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Purchase and sale agreement Earnest money deposit Title search Title 96

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 138

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.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 108

HomeLight

DECEMBER 31, 2020

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process. What does “sale pending” mean?

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Realty Biz

SEPTEMBER 2, 2021

Usually, an agent will charge a percentage of the sales price (around 5-6 percent), while others may charge a flat fee. In a real estate sale, it’s common for there to be contingencies – or conditions – that need to be met before the buyer will close the deal. Choosing the Wrong Agent. Most agents’ commission is negotiable.

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Inspection contingency Closing costs Inspection Agents 102

RIS Media

MAY 19, 2021

” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” ” What do they mean and how will they affect your home sale? One of the most confusing things for buyers and sellers to understand is what contingent means vs. pending.

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

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 102

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. Bidding wars have grown more common in today’s marketplace as buyers rush to compete for a limited stock of homes for sale.

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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.

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Realty Biz

JULY 6, 2022

Falling sales prices are a clear indicator that the seller’s market is losing steam. The comparable sales will often be based on a different market. The Number of Homes For Sale Rises. One of the defining factors of a seller’s market is low inventory of homes for sale. It happens all the time.

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HomeLight

JUNE 29, 2021

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. Investors are responsible for 20% of residential real estate sales in the U.S. OK, but what exactly is a cash offer?

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Windemere Selling

MARCH 14, 2022

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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Purchase and sale agreement Home sale contingency Inspection contingency Pre-approval 52

Real Trends

APRIL 11, 2023

Imagine being a buyer who’s getting ready to close the deal and realizes thousands of extra dollars in closing costs have been tacked on to the final price of the home sale. Most real estate contracts contain a home inspection contingency — it’s what gives the buyer and seller options in case a problem arises during an inspection.

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Realty Biz

OCTOBER 12, 2021

In August, they comprised just 29% of sales, far below the 40% of the market this segment traditionally makes up. 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

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.

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Inspection contingency Inspection Closing Loans 113

RIS Media

APRIL 12, 2021

Buyers usually have a house inspected before they proceed with a purchase. The exact language related to a home inspection contingency can vary from one contract to another. In some cases, a contingency gives the buyer the option to request repairs, a repair credit or simply walk away.

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Redfin

AUGUST 26, 2020

In case you’re thinking of waiving the home inspection contingency, you should also be aware that some lenders require a home inspection as a necessary step before they finalize your home loan. Home inspectors generally use a home inspection checklist to look for damage or other causes of concern. Local laws.

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