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Inspection contingency Earnest money deposit Home sale contingency Inspection MLS Purchase and sale agreement Pre-approval Finance Closing Staging More Related Topics >
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What Does Contingent Mean in Real Estate Sales

Realty Biz

NOVEMBER 11, 2020

While it is rarer for a home sale to fall apart because of a buyer not getting financing, it is still something where due diligence is essential. One of the standard contingencies in nearly all real estate contracts is delivering a clear title. In real estate jargon, this is referred to as a “backup offer.”

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Backup offer Sales Home sale contingency Earnest money deposit 112
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10 Things to Know About the ‘Sale Pending’ Phase, aka House Closing Limbo

HomeLight

DECEMBER 31, 2020

However, a number of hiccups can prevent those contingencies from being lifted, including: Irresolvable issues that arise during due diligence. Line up backup offers to hedge your risk. Just make sure that backup offer is one you’re willing to accept — because that backup is a legally binding contract, too.

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