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 74

Short sale Sales Banks Backup offer 74

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 145

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

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 93

MLS Backup offer Inspection contingency Purchase and sale agreement 93

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 79

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 79

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 93

Purchase and sale agreement Proof of funds Backup offer Finance 93

HomeLight

DECEMBER 30, 2021

The only thing that stands between you and a sale is the appraisal. To conduct an accurate evaluation, the appraiser will evaluate local comparable sales and conduct an onsite visit of your property to evaluate an array of external and internal factors. You’re ready to move on. And, what’s it going to take for your home to pass? “I

Loans 117

Loans Agents Inspection Closing 117