HomeLight

OCTOBER 29, 2020

Review the detailed settlement document provided by the closing attorney and you’ll see a line item for a property title search. If a title search reveals any claims to or liens against the property, the transaction will be delayed until it can be resolved. Short sale or bank approval contingencies.

Purchase and sale agreement 79

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 79

HomeLight

JANUARY 13, 2022

Title contingencies. A title is the legal right to own a property. A title search reveals who has owned the home in the past and in the present, and whether there are any recorded liens, claims, or judgments made against the home. Title contingencies cannot be waived. Source: (Melody Ayres-Griffiths / Unsplash).

Backup offer 78

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 78

HomeLight

JULY 31, 2021

Although it’s not as sure of a bet, you could also attract a regular residential buyer who has enough liquid assets to buy a house outright. Once you’ve accepted an offer and entered into a purchase contract, the buyer will turn the contract over to the title or escrow company.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98