HomeLight

JUNE 9, 2023

The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. What are the most common contingencies?

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

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. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. No Showings.

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Purchase and sale agreement Backup offer Home sale contingency Short sale 145

Realty Biz

NOVEMBER 11, 2020

Let’s have a look at the most common types of contingency you are likely to see. Home Inspection Contingency. The purchase of the property can be contingent on the home inspector’s report. If the home requires some repairs, the price can be renegotiated, or the seller can fix the issues.

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Backup offer Sales Home sale contingency Earnest money deposit 110

RIS Media

APRIL 8, 2022

Real Estate appraisals are usually completed when homes are bought via mortgage loans. A qualified appraiser establishes the home value via many factors ranging from location to condition. Appraisals that are lower than expected may put a home back on the market. Home inspection problems. It depends.

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

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. Not all sales will have contingencies with them, but most will. Common real estate contingencies include the following: Inspection Contingencies. Pending Meaning.

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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. This is called the “home sale” contingency. It’s not instant.

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Backup offer Purchase and sale agreement Earnest money deposit Home sale contingency 81

HomeLight

MARCH 20, 2023

After all, few people can afford to hold two mortgages. At the same time, it usually does not make sense for buyers to sell their home without having a new one lined up to move into. So what options does that leave for the homebuyer who must also be a home seller ? Find a Buyer's Agent What is a home sale contingency?

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