RIS Media

APRIL 18, 2022

Buyers are waiving a home inspection. Buyers are waiving their home appraisal or offering an appraisal gap guarantee. Getting rid of the mortgage financing clause in their offer. 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 116

Pre-approval Backup offer Due diligence Rent back 116

Realty Biz

NOVEMBER 11, 2020

Home Inspection Contingency. Home inspections are one of the biggest hurdles in home sales. It is not uncommon for a home to go from being market “contingent” to “back on the market” because of some issues discovered from the home inspection. Home Sale Contingency. These appraisal tips will help.

Backup offer 110

Backup offer Sales Home sale contingency Earnest money deposit 110

RIS Media

APRIL 8, 2022

While financing may be pre-approved, the process is complex. Home inspection problems. Home inspections are standard practice when buying a home and don’t usually stop a sale unless there is a severe underlying issue with the property. You’ll want to make a backup offer to put yourself in the game.

Debt-to-income ratio 144

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

HomeLight

JUNE 9, 2023

These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. As of 2023, 79% of contracts included an inspection contingency while 82% contained an appraisal contingency. If I accept an offer with contingencies, what happens to my listing status?

Home sale contingency 143

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 143

Windemere Buying

JUNE 22, 2022

It means the seller has accepted an offer and there’s a good chance the deal will go through, but because the sale is not yet final, the property is technically not off the table. Other interested buyers will make backup offers in case the first offer falls through.

Purchase and sale agreement 52

Purchase and sale agreement Inspection contingency Seller concession Backup offer 52

HomeLight

NOVEMBER 1, 2021

This is the time when the inspection, any agreed upon repairs, and the appraisal take place. When the home is under contract, the seller and the seller’s agent aren’t usually showing the home or accepting additional offers. What happens if the home sale falls through? This works in the seller’s interest.

Purchase and sale agreement 97

Purchase and sale agreement Proof of funds Backup offer Finance 97

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. With that in mind, it’s crucial that you work through all of the big negotiations before you accept an offer.

Earnest money deposit 99

Earnest money deposit Purchase and sale agreement Closing costs Closing 99