Realtor.com

NOVEMBER 28, 2022

If your offer’s wrapped up in the buyers’ ability to successfully offload their own home, there’s also a chance the sale could take months—maybe even years. But even if you are pleased with your current offer, you might still want to let your agent continue showing your home. “In

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Backup offer Inspection Closing Loans 119

Real Trends

MARCH 8, 2023

Use this guide to get your transactions back to the closing table and don’t give up. We have closed thousands of transactions over the lifespan of our real estate careers, and we have coached thousands of clients to meet or exceed their goals. You can still get to the closing table. Get to work to solve the problem.

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Debt-to-income ratio Finance Backup offer Agents 94

Windemere Selling

MAY 16, 2022

But the reality is that sometimes there will be bumps in the road, and the best thing you can do is work closely with your agent to be prepared for them. As a seller, it’s critical that you work closely with your agent to understand the terms of the buyer’s offer.

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Backup offer Purchase and sale agreement Inspection Agents 52

Realty Biz

NOVEMBER 11, 2020

When a home sale is listed as contingent, it means that the seller has accepted an offer with contingencies. This means that certain clauses have to be completed, by perhaps both buyer and the seller, for the sale to close. The document provided to the buyer at closing is what’s referred to as a mortgage plot plan.

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Backup offer Sales Home sale contingency Earnest money deposit 110

Realty Biz

SEPTEMBER 14, 2021

The seller has agreed to accept a contingent offer from the purchaser. During this time, the seller can still accept backup offers from other interested parties. Homes are often marked in the multiple listing service as “pending” when a real estate agent is confident closing the sale.

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Backup offer Purchase and sale agreement Inspection Sales 124

Point2Homes

DECEMBER 8, 2020

A home listed as contingent means the seller has accepted an offer. However, before the sale can go to closing, certain contingencies must be met. Essentially, contingent listings still have contingencies to be fulfilled in order for the sale to go through, so the seller may still be open to other offers. Contingent Statuses.

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

Norada Real Estate

APRIL 20, 2023

When a seller accepts an offer from a buyer, they sign a contract that outlines the terms of the sale. The contract is a legally binding document that includes the timeline for the sale, including the closing date. In some cases, a seller may be willing to accept a backup offer.

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The Residential Specialist

DECEMBER 31, 2020

With many restaurants, stores and other businesses closed, people also aren’t going out as much and realize they want more from their homes, whether it’s an updated kitchen or space to spend time outside. Backup Offers. And, of course, keep showing your client’s home until the backup offer is accepted!

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Backup offer Pre-approval Agents Banks 98

RIS Media

APRIL 8, 2022

Something can come up (such as an unanswered financial obligation or a significant purchase before the closing that changes the debt-to-income ratio) and put a home back. . Sometimes significant problems are revealed that could hinder the closing happening. Placing a purchase offer on a contingent home. Low appraisal.

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Debt-to-income ratio Title search Backup offer Home sale contingency 144

HomeLight

JULY 23, 2021

If the first offer isn’t accepted — maybe the price is too low, or there are too many contingencies on the sale — the seller will surely want the opportunity for another offer to come in on their home. When [my team] lists properties, we actually encourage all of our clients to accept a backup offer,” says Cheperdak.

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MLS Backup offer Agents Purchase and sale agreement 108

HomeLight

JUNE 9, 2023

A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet. It’s also true that most real estate contracts, even those with contingencies, end up closing. Purchase mortgages today are taking over 40 days to close on average.

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 139

Realtor.com

SEPTEMBER 14, 2020

If you look closely at the photos, you can really see the lengths the owner went to,” Kearney says. “He We actually received multiple offers. It is currently under contract, and I have a backup offer as well,” she notes. The new owners, she says, made an offer without even seeing the property in person.

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Backup offer Closing As-is Marketing 135

First Team Real Estate

MAY 27, 2021

FirstTeam Real Estate agent Christine Bova closed an impressive $5 million in total transactions for the month of April, placing her among the top-performing agents in our Huntington Beach Seacliff Office. I use our internal communications platform in all areas of my business and our DIY marketing software for professional-looking materials.

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Agents Backup offer MLS Closing 98

Realty Biz

MAY 24, 2021

You can work closely with your real estate agent to structure an offer that will gain the attention of the seller based on contingencies, concessions, and anticipated closing date. Even if you are outbid, make your best offer a backup offer. Some buyers will offer more than they can deliver.

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Backup offer Marketing Residential MLS 89

Windemere Selling

NOVEMBER 30, 2022

The following information is meant to clarify some common real estate terms that describe a home for sale and its position in the closing process. And for buyers, it helps to be familiar with these terms when searching for your next home and how they factor into making an offer. What is closing in real estate?

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Purchase and sale agreement Backup offer Home sale contingency Inspection 52

RIS Media

APRIL 18, 2022

You may see some of these things or all of them before making an offer. It will help tailor your offer when the time comes. It may make sense to put in a backup offer when you’re not the winning bidder. There are a few important things to keep in mind when making an offer on a house: The offer price.

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Windemere Buying

JUNE 22, 2022

Sellers will typically request alterations like a higher price, a modification to your contingencies , or an adjustment of closing dates. 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.

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Purchase and sale agreement Inspection contingency Seller concession Backup offer 52

HomeLight

OCTOBER 20, 2020

In real estate, a “contingent” offer means that one or both parties have requested certain provisions before the deal closes. If you’ve accepted an offer that is contingent on a home sale and you have added a kick-out clause, your home should be listed with a status such as “Contingent With Kickout. It’s not instant.

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Backup offer Purchase and sale agreement Earnest money deposit Home sale contingency 56

RIS Media

MAY 19, 2021

However, this is just the start with many things to do before the status changes to “Closed.” The contingent label in a listing indicates that the seller has accepted the offer; however, certain things need to happen before things can move on. – Closed: The home has been sold. What Other MLS Statuses Are There?

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

The Close

APRIL 26, 2022

Our persistence and strategy led to more than $1 billion in sales in 2021 and we’re on track to hit our goal of closing a thousand buyers in 2022. If you want to learn more about The Reynolds Team, check out my interview with team leader Sarah Reynolds Oji on The Close Weekly Podcast. Contact Top Listing Agents From Other Brokerages.

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Backup offer Purchase and sale agreement MLS Agents 77

HomeLight

NOVEMBER 1, 2021

In a hot market, the seller’s agent may have backup offers and eager buyers waiting in the wings to snatch up the home. If the seller’s agent has other offers on the table, and the appraisal comes in low, the buyer will be motivated to come up with the difference rather than negotiate a lower price.

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Purchase and sale agreement Proof of funds Backup offer Finance 89

Easy Agent Pro

JUNE 8, 2021

Explain to readers what to pay close attention to in the purchase agreement. As we all know, there’s more to an offer than price. Council buyers to ensure they’re working closely with their lenders so that they’re ready to move if their offer is accepted. The backup offer. Again, don’t gloom and doom this.

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Agents Purchase and sale agreement Backup offer Title 116

First Team Real Estate

NOVEMBER 9, 2020

If the buyers get cold feet or financing falls through, you want to be ready with your own backup offer in place so that you can be next in line to secure your dream house. Contact listing agents whose listings are currently in escrow that fit your needs and check the sales status.

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Agents Purchase and sale agreement Backup offer MLS 93

First Team Real Estate

DECEMBER 7, 2020

Having several offers on your home is fantastic, however, how do you guarantee you pick the very best deal and don’t miss out on an even better one? Speed primarily revolves around the closing date , but there are a couple of other aspects to think about. Having a solvent purchaser helps guarantee a smooth closing.

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Purchase and sale agreement Pre-approval Title Backup offer 98

HomeLight

SEPTEMBER 16, 2022

The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. The earnest money and the option fee are credited to you at closing,” explains Bacak for buyers who move forward. How much is a typical option period fee? Is this refundable? How long is a typical option period?

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Option period Earnest money deposit Due diligence Inspection 83

RIS Media

MAY 15, 2021

The seller, despite having 13 backup offers, instructed his listing agent to contact “that agent” who came to his house with the “little girl” before putting the house back on the market—a testament that screams volumes about RomeoDiSantillo and how she puts herself out to the world. The kicker?

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Backup offer Inspection Agents Residential 82

First Team Real Estate

DECEMBER 14, 2020

Our collaborative approach to serving all of our very real clients allows us to match buyers and sellers within our network of local agents, and close transactions quicker and easier than anyone else. We even pay for everything upfront so you aren’t charged a dime until your home closes for top dollar. Their Strategy. Their Strategy.

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Brokerage Backup offer Staging MLS 105

HomeLight

OCTOBER 11, 2021

The lender has the final say on these types of sales, and all offers must go through them. Normally, when someone puts their house up for sale, they have some equity in the property and will walk away with money in their pocket after closing.

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Short sale Sales Banks Backup offer 71

HomeLight

JULY 6, 2023

When your home first hits the market, your listing agent will note that it’s “Active,” as in ready and available for showings — but there’s a lot of ground to cover before your agent lists the status as “Closed,” when you have a done deal and you’re ready to hand over the keys. An offer has been accepted, and the sale is expected to close.

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MLS Backup offer Inspection contingency Purchase and sale agreement 90

HomeLight

DECEMBER 31, 2020

Keep your comps close together. A lot of sellers appreciate the convenience and privacy of an off-market cash sale, as they can pick a closing date and avoid having people coming through their house for showings. You want the flexibility of choosing your own closing date.

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HomeLight

JANUARY 13, 2022

An active contingent listing means that the seller has accepted an offer from a buyer, but certain conditions haven’t been met yet. Many offers contain contingencies. In May 2020, 76% of closed sales contained purchase contingencies, a survey from the National Association of Realtors® (NAR) found. Common types of contingencies.

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Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 75

First Team Real Estate

DECEMBER 13, 2020

Our collaborative approach to serving all of our very real clients allows us to match buyers and sellers within our network of local agents, and close transactions quicker and easier than anyone else. We even pay for everything upfront so you aren’t charged a dime until your home closes for top dollar. Their Strategy. Their Strategy.

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Brokerage Backup offer Staging MLS 40

HomeLight

JANUARY 5, 2022

Typically, the seller’s agent stops accepting offers once the home is pending sale. However, it’s often a good idea to table backup offers, which may come into play if the sale falls through. Seller’s agents are obligated to present all offers to the seller, even after a contract has been signed,” says Garrett.

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Purchase and sale agreement Backup offer Inspection Agents 107

Lab Coat Agents

AUGUST 10, 2021

What’s more, they may even reach out to close friends and family who are in the market to let them know a house is for sale. When a For Sale sign goes up, you can bet that the neighbors are going to notice — and their curiosity is going to be piqued. Under Contract ?

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Branding Finance Backup offer Agents 52

First Team Real Estate

MAY 14, 2021

Brandice and her team go to bat for their clients on everything from preferred timeline, inspections, closing costs, backup offers, repairs, and so much more.

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HomeLight

DECEMBER 30, 2021

You’re so close to closing. The appraisal is usually the last piece of the loan package to be completed before closing. So, anything a seller can do to make sure the appraisal goes well contributes to an on-time closing and smooth sale. Cinch and celebrate the closing. You’re ready to move on. Keri White.

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Loans Agents Inspection Closing 117

HomeLight

MARCH 20, 2023

They’ve accepted an offer and set a closing date, thus their current home sale just needs to be “settled” in order for the purchase of the new home to go through. Thus, the offer on their new home would be contingent on them first finding buyers and then closing the sale on their current home.

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