Closing Inspection contingency Loan contingency Loans 
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. The most extended periods typically relate to mortgage and home sale contingencies.
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 inspection. The appraisal.
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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.
HomeLight
NOVEMBER 29, 2021
The flat fee company posts the listing on the MLS, and the seller is responsible for showing their home, negotiating with either the buyer or the buyer’s agent, and managing the closing timeline. When reviewing an incoming offer, you’ll take into consideration the overall offer terms, such as: the buyer’s ability to qualify for a home loan.
HomeLight
MARCH 23, 2022
But there’s a catch: Because you don’t typically have to provide any documentation, nothing is verified, and this loan amount isn’t guaranteed. When underwriting is completed before you make an offer on a house, it can speed up the closing process, making your offer more attractive to sellers. Leslie Peterson. Real Estate Agent.
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