RIS Media

APRIL 18, 2022

Getting rid of the mortgage financing clause in their offer. 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. Get pre-approved for a mortgage.

Pre-approval 118

Pre-approval Backup offer Due diligence Rent back 118

RIS Media

APRIL 8, 2022

Finances falling through. Since most homes are financed, and financing isn’t guaranteed until a buyer has signed the dotted line, failure to secure funds can put a home back up for sale. While financing may be pre-approved, the process is complex. In a nutshell, you can offer to buy a contingent home.

Debt-to-income ratio 144

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

Realty Biz

NOVEMBER 11, 2020

If you follow all of the proper steps in selling a home , you will never have to worry about accepting an offer with a home sale clause. This contingency is often required by lenders to make sure the home is worth what the buyer has offered for it. The Mortgage Financing Contingency. Appraisal Contingency.

Backup offer 110

Backup offer Sales Home sale contingency Earnest money deposit 110

HomeLight

JUNE 9, 2023

average % of contracts with an appraisal contingency: 80% Financing contingency Also known as mortgage contingency , the financing contingency states that the buyer can back out of the deal if they can’t get their loan to go through. If I accept an offer with contingencies, what happens to my listing status?

Home sale contingency 137

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 137

HomeLight

NOVEMBER 1, 2021

It’s likely that you will sell your home to a buyer who will finance the purchase with a mortgage. According to the National Association of Realtors (NAR), 87% of home buyers finance property purchases with a mortgage. The inability of the buyer to secure financing is one of the most common reasons for a pending sale to fail.

Purchase and sale agreement 86

Purchase and sale agreement Proof of funds Backup offer Finance 86

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. Make repairs that affect the buyer’s loan requirements. Lowball offers that are well under asking price.

Earnest money deposit 89

Earnest money deposit Purchase and sale agreement Closing costs Closing 89