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. This contingency is often required by lenders to make sure the home is worth what the buyer has offered for it.

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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

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

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. . Real Estate appraisals are usually completed when homes are bought via mortgage loans. 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

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 145

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. The proceeds of that sale allowed me to pay off my entire law school loan right after I graduated!

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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. Over the life of the loan, it could translate into thousands of dollars. The terms of the loan.

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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

NOVEMBER 1, 2021

But if the home appraises low (below the purchase price), the buyer will have difficulty securing a loan for the property without bringing extra cash to the sale or renegotiating the price. In a hot market, the seller’s agent may have backup offers and eager buyers waiting in the wings to snatch up the home.

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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 98

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 103

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. Source: (manny PANTOJA / Unsplash). Order an appraisal.

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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 97

HomeLight

DECEMBER 30, 2021

You’re so close to closing. According to the National Association of Realtors® Research Group’s 2021 data , 64% of buyers have conventional loans, 16% have FHA loans and 14% received VA loans. The appraisal is usually the last piece of the loan package to be completed before closing.

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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

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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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 103

HomeLight

JUNE 29, 2022

Whether it’s dealing with price negotiations or determining a timeline for closing and moving out of the property, you’ll want to step into the process already knowing your objectives and what to expect from prospective buyers. Price your house right to attract competitive offers. Make repairs that affect the buyer’s loan requirements.

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Realty Biz

JUNE 30, 2021

In this tight market, buyers can expect it to take many months between first checking their credit score and when they’ll close on a home. You’ll be viewing properties online, talking to agents, touring houses, and making offers even when you think someone else will make a better offer. Stay in Touch with Your Agent.

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HomeLight

OCTOBER 5, 2020

If you want to win more bidding wars, you can’t keep writing offers the same way you always have. When you’re up against 5, 10, or even 50+ other offers, the smallest details can have the biggest impact. And winning often comes down to something other than price or closing date. And it’s not that big a deal, I get.

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Agents Backup offer Inspection Closing 97

HomeLight

MARCH 15, 2021

If you want to win more bidding wars, you can’t keep writing offers the same way you always have. When you’re up against five, 10, or even 50+ other offers, the smallest details can have the biggest impact. And winning often comes down to something other than price or closing date. And it’s not that big a deal, I get.

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Agents Backup offer Inspection Closing 79