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What Does Removing the Loan Contingency Mean for Homebuyers?

HomeLight

If you’ve been shopping for a home, you’ve likely come across the term “loan contingency,” and you may be considering including this clause in your purchase offer. Or perhaps you’ve already made a loan-contingent offer, and you’re wondering about contingency removal. What is a loan contingency?

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How To Buy and Sell a Home at the Same Time—in Today’s Haywire, High-Interest Rate Housing Market

Realtor.com

Getty Images (3) Buying a house while simultaneously selling your current home is always a treacherous tight wire to traverse—but in today’s high-priced, high-interest-rate housing market, it’s both a blessing and a curse. How disruptive will it be to have the home I live in on the market? Is it worth the risk?

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The Next Evolution of iBuyers: ‘Power Buyers’

RIS Media

Power Buyers solve this for sellers by helping them buy without a loan contingency before they sell. of market value during the first half of the year. Anecdotal reports from brokers across the country confirm that iBuyers are often making offers above prices expected on the open market. in 2020 to 5.1%

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What Do Cash Buyers Look for in Real Estate?

Realty Biz

The global real estate market reached a size of $3.69 Property sales often involve several contingencies , but cash buying can eliminate some, making things easier. For example, there's no need for a loan contingency (mortgage contingency). appeared first on RealtyBizNews: Real Estate Marketing & Beyond.

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iBuyers Rebound as Power Buyers Rapidly Expand

RIS Media

According to our latest zavvie Seller Preferences Report, iBuyers rebounded last year, increasing business fivefold year-over-year during an historic seller’s market. Despite a major iBuyer exiting the market (Zillow), Opendoor, Offerpad and RedfinNow significantly increased their purchasing activity.

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Zavvie Releases Seller Preferences Report

RIS Media

Record-low inventory in markets across the U.S. Stefan Peterson, zavvie chief data officer and co-founder, explains the impact on the typical consumer: “A Denver buyer with a traditional mortgage and a loan contingency had to make offers on an average of seven homes before winning the day.” versus 7.2% in 2020. .

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A California Conundrum: Selling One Home to Buy Another? It’s Simple With HomeLight Trade-In

HomeLight

It seemed like it would be a lot more difficult to put them through the stress of having a sales contingency and trying to work around their schedules, making sure the house stays clean for showings and so on — it would really inconvenience their lives.”. Source: ( Peter Abdelmesseh. Whissel Realty Group ). Source: ( Peter Abdelmesseh.