HomeLight

JULY 31, 2020

Asking for a home warranty to cover questionable or outdated features. If all else fails and the repairs are too significant, it’s important to have an inspection contingency in the contract that allows the buyer to cancel the deal after evaluating the inspection report without losing their earnest money deposit.

Closing 114

Closing Purchase and sale agreement Title search Earnest money deposit 114

HomeLight

JANUARY 13, 2022

Inspection contingencies. Inspection contingencies mean that a buyer can get a home inspected before the deal goes through, and can back out of the purchase with earnest money intact, depending on what the inspector finds. Inspection contingencies can be waived. Appraisal contingencies.

Backup offer 84

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 84

HomeLight

JULY 29, 2022

There are certain properties I would immediately order a title search before I do anything else: A foreclosure , a short sale , a bankruptcy, an estate sale,” Houck says. If an inspection contingency was included in the purchase contract, the buyer can walk away from the sale if the inspection uncovers something ugly.

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104