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What to Do Before Offering on a Home

RIS Media

APRIL 18, 2022

It may make sense to put in a backup offer when you’re not the winning bidder. Many buyers will put in offers on homes that are contingent just in case the home of their dreams comes back on the market. . Get pre-approved for a mortgage. This will help eliminate any surprises during the homebuying process.

Pre-approval 119
Pre-approval Backup offer Due diligence Rent back 119
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What Does Contingent Mean in Real Estate Sales

Realty Biz

NOVEMBER 11, 2020

Even if the buyer has pre-approval for a mortgage, things can still go wrong when they apply for the loan. Perhaps, they have taken out a fresh loan, or their situation has changed in some other way since pre-approval. In real estate jargon, this is referred to as a “backup offer.”

Backup offer 111
Backup offer Sales Home sale contingency Earnest money deposit 111
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