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 119

Pre-approval Backup offer Due diligence Rent back 119

Realty Biz

NOVEMBER 11, 2020

The Mortgage Financing Contingency. Even if the buyer has pre-approval for a mortgage, things can still go wrong when they apply for the loan. Perhaps, they have taken out a fresh loan, or their situation has changed in some other way since pre-approval. Can you Make an Offer on a Contingent Home?

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. Real Estate appraisals are usually completed when homes are bought via mortgage loans. Some contingent offers are subject to a home buyer being able to sell their current home to be able to finance the new one. Low appraisal. The title search reveals issues.

Debt-to-income ratio 144

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

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. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home.

Home sale contingency 141

Home sale contingency Inspection contingency Purchase and sale agreement Inspection 141

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. Mortgage companies require an appraisal to determine the value of a home. This works in the seller’s interest.

Purchase and sale agreement 92

Purchase and sale agreement Proof of funds Backup offer Finance 92

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

First Team Real Estate

DECEMBER 7, 2020

Having several offers on your home is fantastic, however, how do you guarantee you pick the very best deal and don’t miss out on an even better one? The purchasers will not get this cashback if they back out of the offer unless defined in the agreement. Usually, the purchasers need you to pay the mortgage throughout this time.

Purchase and sale agreement 98

Purchase and sale agreement Pre-approval Title Backup offer 98