Redfin

MARCH 5, 2025

Look at for-sale-by-owner and inherited homes Some homeowners choose to sell their properties without involving real estate agents, often resulting in lower prices. These for-sale-by-owner listings can be found on various online platforms and local classifieds.

Debt-to-income ratio

Housing Wire

MARCH 21, 2025

If you have a backup offer, know the facts before switching to that deal. If you don’t have a backup offer, get a 2-week extension, so you have time to resolve the issues and still get to the closing table, then get to work. The buyer’s Home Sale tanked, and now they can’t close on their new house.

Finance

Housing Wire

FEBRUARY 14, 2024

As a result, homeowners either must sell their current home and suffer through double moves and short-term rentals to access the equity they’ve accrued, or they have to make contingent offers that require the sale of their current house to close. Calque provides homeowners with a Purchase Price Guarantee (i.e.,

Backup offer

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

Housing Wire

APRIL 8, 2021

” Fronk said she saw one home in Logan receive 23 offers before it sold for $75,000 over asking price. “And it was a cash offer,” she said. “The backup offer could have gotten the seller a little bit more, but it was a site-unseen offer and the seller felt a little more comfortable going with the first offer.”

Marketing

Housing Wire

MAY 14, 2024

In March, first-time buyers were responsible for 32% of sales, up from 26% in February and 28% a year prior, according to data from the National Association of Realtors. “And we are seeing the down payment or some of the down payments come from an outside source — inheritance from a deceased grandparent, or parents helping out too.”

Backup offer

Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

Backup offer

Realtor.com

APRIL 9, 2021

These contingencies often include financing, a home inspection , home appraisal , and sometimes the sale of the buyer’s current home. Since it’s possible for any of these items to fall through along the way, seller’s agents will sometimes take backup offers. How good are your odds of a contract falling through?

Backup offer

Realtor.com

JANUARY 12, 2021

The buyers fell in love and made an offer, and you let out a great, big sigh of relief when the contract was signed. Then it happens—another offer comes in, and a better one at that. When is a sale a sale? Buyers can also take backup offers (more on these options later). Can you take the highest bid?

Backup offer

HomeLight

DECEMBER 31, 2020

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process. What does “sale pending” mean?

Closing

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. A backup offer is not uncommon in real estate sales.

Purchase and sale agreement

Realty Biz

SEPTEMBER 14, 2021

In some places, active under contract indicates that a contract has been signed but is contingent on certain conditions being met before the sale is finalized. In other locations, the sale may be referred to as being contingent in the multiple listing service (MLS). The seller has agreed to accept a contingent offer from the purchaser.

Backup offer

HomeLight

JANUARY 13, 2022

Many offers contain contingencies. In May 2020, 76% of closed sales contained purchase contingencies, a survey from the National Association of Realtors® (NAR) found. Common contingencies include issues with appraisals, home inspections, or the buyer’s home sale. Home sale contingencies. Common types of contingencies.

Backup offer

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. Home sale contingency This contingency can arise when a buyer must sell their current home before buying yours. Why have a backup offer on hand?

MLS

Realtor.com

NOVEMBER 28, 2022

If your offer’s wrapped up in the buyers’ ability to successfully offload their own home, there’s also a chance the sale could take months—maybe even years. Ways to protect yourself from a stalled home sale. To cover all of your bases, consider including a “ kick-out clause ” in your contract.

Backup offer

HomeLight

MARCH 20, 2023

That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. Most often, this type of scenario calls for a home sale contingency. Find a Buyer's Agent What is a home sale contingency? Thus, the purchase agreement is “contingent” on the sale of the buyer’s existing home.

Home sale contingency

RIS Media

APRIL 8, 2022

Once you find your dream home and it happens to be marked as contingent, you can still place an offer. Here’s all you should know about contingent sales as a potential home buyer. An active listing means the home in question is currently on sale, and sellers are actively open to offers. Contingent meaning. It depends.

Debt-to-income ratio

Realty Biz

JULY 25, 2023

When you're looking to buy a home, you'll likely come across the terms "under contract" and "pending sale." This means that it’s crucial to understand the difference between a pending sale and an under contract and what they mean for a buyer or a seller. This means that the buyer and seller have agreed on the terms of the sale.

Sales

HomeLight

OCTOBER 11, 2021

You see a house you love, but the listing shows that it is an “active pending short sale.”. Can you still make an offer on the house, or are you out of luck? And just what is a short sale, anyway? Is a short sale home purchase for you? And can you still make an offer on an active pending short sale?

Short sale

HomeLight

JULY 23, 2021

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. Will a house with an offer on it be removed from the MLS? When [my team] lists properties, we actually encourage all of our clients to accept a backup offer,” says Cheperdak.

MLS

HomeLight

JANUARY 5, 2022

Why might a seller want to back out of a home sale? In his nearly two decades of experience representing buyers and sellers in litigation, these are the most likely reasons sellers attempt to renege their plans: A higher offer comes in. Typically, the seller’s agent stops accepting offers once the home is pending sale.

Purchase and sale agreement

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. Short sales or foreclosures in your area have driven home prices artificially low.

Purchase and sale agreement

Realty Biz

NOVEMBER 15, 2021

They were finally successful after a search lasting more than five months, when they made an offer on a home within an hour of seeing it last February. They were told immediately afterwards that the home was already under contract, though their backup offer of $780,000 was eventually accepted after the first transaction fell through.

Backup offer

HomeLight

OCTOBER 20, 2020

As any seller would be, you’re thrilled when an offer comes in for your property — but that excitement fades when you find out it’s contingent on the sale of the buyer’s home. You’re hesitant to put all of your proverbial eggs in one buyer’s basket when the sale might never actually happen. Source: (Paul Siewert / Unsplash).

Backup offer

HomeLight

NOVEMBER 8, 2024

In real estate, “pending” means a seller has accepted an offer, and the property is under contract , but the sale hasn’t yet closed. If everything goes smoothly, the sale could close faster. Can a buyer make an offer on a ‘pending’ house? If they reject the buyer’s offer, the deal won’t proceed.

Inspection contingency

First Team Real Estate

MAY 14, 2021

If you’re starting your home search or sale, Zillow Seal Beach is a fine jumping-off point, but when it comes to analyzing the local real estate market, you need a local professional to help you come out on top. Or helping you complete repairs so you can sell for more, instead of cutting your sales price. . The Truth About Commission.

Backup offer

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. Learn More Should I accept an offer with a home sale contingency?

Home sale contingency

RIS Media

APRIL 18, 2022

There’s no guarantee that the property you like will be available when you’re ready to make an offer. Look at recent sale prices, as well as neighborhood trends. 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.

Pre-approval

Windemere Selling

MAY 16, 2022

If a buyer is hesitant about purchasing a home, the best time to back out of the deal is before their offer is accepted. Once the purchase agreement is signed by both parties, it becomes legally binding, and the sale of the property can proceed. They stipulate that if the first offer falls through, the second buyer’s offer is accepted.

Backup offer

The Close

APRIL 26, 2022

Our persistence and strategy led to more than $1 billion in sales in 2021 and we’re on track to hit our goal of closing a thousand buyers in 2022. Steve, Inside Sales Associate, The Reynolds Team Virginia. Write Backup Offers With a Backup Clause Written by an Attorney. Prospect OLD Expireds, Not New Expireds!

Backup offer

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. Home Sale Contingencies.

Purchase and sale agreement

Marco Santarelli

APRIL 15, 2023

Some of these terms include: Active: When a property is marked as “active,” it means that the listing is currently available for sale and there is no accepted offer on it yet. If you are a homebuyer, this is a great opportunity to view the property and make an offer.

Backup offer

HomeLight

DECEMBER 31, 2020

A qualified real estate agent will always be one of your best allies when it comes to arriving at a suitable sale price, but it doesn’t hurt to get an understanding of some of the approaches used to predict that magic number. There have been multiple sales of comparable properties in the area. How AVMs work. Do your own comps analysis.

Backup offer

HomeLight

SEPTEMBER 16, 2022

This enables the buyer to terminate the sale at any point during the allotted time. The option period and fee are finalized in the purchase contract terms of the sale. The home will revert to “option pending” on the market and sellers can only accept backup offers during this time. When does an option period begin?

Option period

First Team Real Estate

NOVEMBER 9, 2020

Contact listing agents whose listings are currently in escrow that fit your needs and check the sales status. If the buyers get cold feet or financing falls through, you want to be ready with your own backup offer in place so that you can be next in line to secure your dream house.

Agents

Norada Real Estate

APRIL 20, 2023

When a seller accepts an offer from a buyer, they sign a contract that outlines the terms of the sale. The contract is a legally binding document that includes the timeline for the sale, including the closing date. In some cases, a seller may be willing to accept a backup offer.

Backup offer

First Team Real Estate

DECEMBER 7, 2020

Here’s how to review details in a tidy, orderly manner so you can make sense of your home sale. In numerous cities, home buyer demand is up while inventory stays low– leaving house hunters fighting it out in multiple-offers scenarios and sellers attempting to browse everything. Price or Cost.

Purchase and sale agreement