First Team Real Estate

AUGUST 8, 2021

Home sales are moving quickly today because of limited inventory, causing lucky home sellers to see an increase in multiple bids or bidding wars. of offers faced bidding wars. What does it mean when it says accepting backup offers? If your buyer ends up with significant issues, your entire sale doesn’t have to end.

Backup offer 98

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

HomeLight

JUNE 9, 2023

A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet. The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. If you refuse and you can’t come to an agreement, they’re free to walk away.

Home sale contingency 141

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 141

HomeLight

NOVEMBER 1, 2021

If you’re selling your home in a hot market rampant with bidding wars that drive up the purchase offers on home sales, you may realize that your home is unlikely to appraise for the inflated purchase offer or even for your asking price. Mortgage companies require an appraisal to determine the value of a home.

Purchase and sale agreement 93

Purchase and sale agreement Proof of funds Backup offer Finance 93

HomeLight

JULY 23, 2021

From the terms for different types of houses to the lingo associated with lending, there’s plenty of terminologies that can feel overwhelming for a buyer to keep up with. The MLS is a real estate database of all the homes in your area that are currently for sale, pending sale, or have recently been sold, and so much more.

MLS 109

MLS Backup offer Agents Purchase and sale agreement 109

RIS Media

MAY 19, 2021

” What do they mean and how will they affect your home sale? Despite this, there can still be room to negotiate the conditions of the sale. The contingent label in a listing indicates that the seller has accepted the offer; however, certain things need to happen before things can move on. Contingent Meaning.

Purchase and sale agreement 98

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

HomeLight

JULY 6, 2023

In the meantime, with a “Contingent” status, the seller is typically allowed to continue showing the home and accept backup offers in the event something goes awry. Considering that 78% of recent buyers financed their home purchase, this contingency is fairly standard. What other MLS statuses do agents use?

MLS 93

MLS Backup offer Inspection contingency Purchase and sale agreement 93