HomeLight
JANUARY 31, 2024
In real estate, when a house is listed as “ contingent ,” it means the sale of the property is conditional upon certain criteria being met. These conditions, or contingencies, are agreed upon by the buyer and seller during the negotiation phase. How long can a house be contingent?
Redfin
SEPTEMBER 2, 2020
If that’s the case, the bank could reject your mortgage. Your pre-approval letter is a signal to the seller and their agent that you are in the pipeline for mortgage approval for how much house you can afford and a good prospect to close on the purchase. . 8) Be flexible on your closing date. 4) Increase your offer.
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HomeLight
AUGUST 31, 2021
A cash offer simply means that a buyer already has the funds available to buy the house and can pay for it without securing a mortgage loan. From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. The appraisal.
HomeLight
JANUARY 13, 2022
An active contingent listing means that the seller has accepted an offer from a buyer, but certain conditions haven’t been met yet. These conditions are known as contingencies, which is where the term “active contingent” comes from. Many offers contain contingencies. Inspection contingencies can be waived.
HomeLight
MARCH 23, 2022
In the preapproval process, you’ll usually submit documentation of your financial details, which can include bank statements, W-2s, a credit check, two years of tax returns, verification of your down payment funds, and more. Only include essential contingencies. Speaking of contingencies, Peterson says the fewer, the better.
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