HomeLight

DECEMBER 12, 2023

This is where a mortgage contingency can save the day. A mortgage contingency protects you in such situations, ensuring that you’re not left holding an empty bag if the financing falls through. Setting the terms: When you make an offer on a home and include a mortgage contingency, you specify the terms.

Earnest money deposit 97

Earnest money deposit Mortgages Purchase and sale agreement Finance 97

HomeLight

JANUARY 31, 2024

Essentially, the deal can proceed to closing only if these specified conditions are fulfilled. Contingencies are designed to protect both parties involved, allowing the buyer to back out of the purchase without penalty under specific circumstances, such as issues discovered during a home inspection or difficulties obtaining financing.

Purchase and sale agreement 97

Purchase and sale agreement Inspection contingency Home sale contingency Inspection 97

Realty Biz

MARCH 29, 2023

This is someone who wants to buy a property with an all-cash bid, eliminating the need for a mortgage or other financing solution. For example, there's no need for a loan contingency (mortgage contingency). With a standard purchase, this allows a buyer to back out of a sale if they can't obtain a loan.

Home sale contingency 72

Home sale contingency Loan contingency Finance Loans 72

Realtor.com

NOVEMBER 28, 2022

. “So if you’re trying to time the purchase and sale of a home, be sure to allow enough time for the proceeds from your home sale to be in hand before you schedule your closing purchase.” It can also get you a deal since all-cash offers typically result in a 3% to 4% discount over a financed offer, Hardy notes.

Marketing 119

Marketing Pre-approval Equity Finance 119

HomeLight

AUGUST 31, 2021

The associated contingencies , which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan. The most obvious contingency with an offer that requires financing is, of course, the financing itself. Though you can (and should!)

Due diligence 75

Due diligence Inspection Pre-approval Pre-qualification 75

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.

Backup offer 77

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 77

HomeLight

AUGUST 23, 2022

Real estate attorneys are not considered essential for closing in the state of Ohio. What I do is when I go into the house and I see some minor repairs, then a lot of times I will have my contractors complete the repairs and have the sellers reimburse us at closing. Real estate transfer taxes? 0.10% plus county tax rate. Lorraine Lynn.

As-is 93

As-is Investor Closing costs Inspection 93