First Team Real Estate

AUGUST 8, 2021

The only way around re-listing is to accept backup offers, so during the planning phase of your home sale, talk to your listing agent about the pros and cons of backup offers. What does it mean when it says accepting backup offers? What is a backup offer? Backup offers, however, can be tricky.

Backup offer 98

Backup offer Earnest money deposit Purchase and sale agreement Inspection contingency 98

Realty Biz

NOVEMBER 11, 2020

They will also get their earnest money deposit back , and the home will go back on the market. Home Inspection Contingency. Home inspections are one of the biggest hurdles in home sales. The Mortgage Financing Contingency. Maybe they have an unsubstantiated cash deposit ?

Backup offer 110

Backup offer Sales Home sale contingency Earnest money deposit 110

RIS Media

MAY 19, 2021

The contingent status typically allows the home to be shown to other possible buyers, allowing backup offers to be made. Common real estate contingencies include the following: Inspection Contingencies. The most common contingency is the home inspection contingency. Financing or Mortgage Contingencies.

Purchase and sale agreement 98

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

HomeLight

OCTOBER 20, 2020

It’s standard for homebuyers to pencil in these escape hatches in the event that the home fails to appraise, an issue crops up with the title, or if they’re unhappy with the results of the inspection. An ideal situation would be to receive an offer without a home sale contingency. It’s not instant.

Backup offer 58

Backup offer Purchase and sale agreement Earnest money deposit Home sale contingency 58

HomeLight

JUNE 29, 2022

As interest rates start increasing, as they are right now in 2022 , sellers may not have as many backup offers to consider as they would when rates were low. Price your house right to attract competitive offers. Require a sizable earnest money deposit. Double-check repair requests with trusted professionals.

Earnest money deposit 100

Earnest money deposit Purchase and sale agreement Closing costs Closing 100

HomeLight

MARCH 20, 2023

After all, few people can afford to hold two mortgages. Other common contingency clauses include: Inspection Contingency: If the buyer finds fault with the home inspection report, they can ask for the seller to make repairs, or they can cancel the contract within the contingency period.

Home sale contingency 96

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 96