Remove Closing Remove Closing costs Remove Home sale contingency Remove Inspection contingency
article thumbnail

Under Contract vs. Pending: A Home Buyer’s Guide to Status Tags

HomeLight

An appraisal contingency allows the buyer to either renegotiate their offer or freely walk away from the agreement if the appraisal comes in under the contracted offer price. Can I make an offer on an ‘under contract’ home? Sellers are often wary of this clause.

article thumbnail

What Are Common Terms and Conditions in a House Offer

Realty Biz

Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause. Home Sale Contingency.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

17 Home Closing Delays and How You Can Avoid Them

HomeLight

Closing on a house seems pretty straightforward. There’s a house for sale that you want to buy. Once the buyer and seller sign the contract, the closing process begins — and therein lies the rub. So the answer to “how long does it take to close on a house?” How it can delay closing. Easy, right? Yeah, not so much.

Closing 109
article thumbnail

The Top 9 Contingencies to Consider in Your Offer When Buying a Home

Redfin

Though you can technically add any contingency you want to an offer, here are the 9 most common homebuying contingencies to consider. 1) Home inspection contingency. As the buyer you should always order a home inspection. 2) Appraisal contingency. 4) Home sale contingency.

article thumbnail

What Is a Home Sale Contingency?

HomeLight

Most often, this type of scenario calls for a home sale contingency. With the help of real estate agent Jesse Allen , a single-family home expert in southern Indiana , we’ll help to explain the ins and outs of home sale contingencies, and offer additional alternatives for buyers who currently own a home.

article thumbnail

How to Sell a House by Owner in Colorado

HomeLight

We’ll also provide a comprehensive overview on the full process to prep, market, and close on your home without the assistance of a real estate agent. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Colorado. That 6% is deducted from the seller’s proceeds at closing.

article thumbnail

What is a Purchase and Sale Agreement?

Redfin

It states the final sale price and all terms of the purchase in a real estate transaction. PSAs can vary by state but they typically consist of the final sale price, earnest money details, closing date, title information, and contingencies agreed upon by the buyer and seller.