First Team Real Estate

AUGUST 8, 2021

According to the latest National Association of REALTORS® Profile of Home Buyers and Sellers, the typical home sold last year was on the market for just three weeks. of offers faced bidding wars. In that case, the home has to go back on the market, pushing your timeline out even further. What is a backup offer?

Backup offer 98

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

HomeLight

JUNE 9, 2023

Most real estate contracts — or roughly 80% — contain contingencies , according to data from the National Association of Realtors (NAR). As of 2023, 79% of contracts included an inspection contingency while 82% contained an appraisal contingency. What are the most common contingencies?

Home sale contingency 145

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 145

Point2Homes

DECEMBER 8, 2020

Therefore, if you find a property that you really want to purchase but has been marked as “contingent,” it could be well worth your time to have your real estate agent check into where things are in the transaction. How is Contingent Different from Pending? A backup offer is not uncommon in real estate sales. No Showings.

Purchase and sale agreement 145

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

Realty Biz

NOVEMBER 11, 2020

Let’s take a closer look at the meaning of contingent , so you can see how it might affect a home you are looking to buy. How your real estate agent markets your property when an offer has been accepted can have vital implications. For example, some agents will mark your home contingent, while others will mark pending.

Backup offer 111

Backup offer Sales Home sale contingency Earnest money deposit 111

Realty Biz

JULY 25, 2023

Once a property under contract has met all contingencies associated with that contract, there are no obvious circumstances that will prevent the sale from going through. At this point, the property is typically removed from the market and is unavailable for other showings.

Sales 86

Sales Inspection Inspection contingency Backup offer 86

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.

Purchase and sale agreement 98

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

HomeLight

DECEMBER 31, 2020

Real estate agents keep an eye on sales pending properties because there are a number of ways that the deal could fall through and the house could come back on the market. Things that could derail a sale during the sale pending period include: The home inspection. Line up backup offers to hedge your risk.

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Closing Backup offer Sales Inspection 104