Redfin

JULY 14, 2025

The money is held in escrow and is typically applied towards the buyer’s closing costs or down payment. Buyer backs out of the deal without a contingency Most real estate contracts include contingencies – built-in conditions that must be met for the sale to move forward.

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The Close

MARCH 11, 2025

The process of locating and purchasing for sale by owner (FSBO) properties can be a complex endeavor for investors. This process involves multiple stages, starting with identifying an FSBO listing to securing appropriate financing and completing the closing procedures. What are the average monthly utilities and maintenance costs?

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Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles What Should a Buyer Look For at a Home Inspection? How close are trees to the home? You can’t expect the seller to fix minor wear and tear issues before closing.

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Redfin

JUNE 23, 2025

In real estate, the due diligence period is the time between an accepted offer and closing. You can schedule inspections, review the title, secure an appraisal, and check for any red flags that could affect your decision to buy. This timeframe grants the buyer permission to thoroughly inspect the property.

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Redfin

JUNE 27, 2025

Don’t skip critical steps like the home inspection or negotiating closing costs. Take note of closing costs, loan terms, and any additional fees. Missing out on first-time homebuyer programs Between saving for a down payment and covering closing costs, buying a home can feel financially overwhelming.

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Redfin

JULY 10, 2025

Credited toward the purchase price at closing Credited toward the purchase price if sale closes Fee amount 1-3% of the purchase price Often 0.1% Instead of going directly to the seller, it’s usually held in an escrow account and applied toward the purchase price at closing. What is due diligence? of the purchase price.

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Lighter Side of Real Estate

JULY 9, 2025

For a while now, buyers were waiving their inspection contingency just to stay competitive in bidding wars in many markets. While waiving inspections still happens in some areas and price points, it’s no longer the default move for every buyer. But that’s starting to shift.

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Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles Earnest Money and House Deposits Explained Kyle Hiscock Kyle Hiscock | Greater Rochester NY Real Estate | Pittsford NY Realtor at RE/MAX Realty Group Have questions about buying or selling a home?

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Redfin

JULY 9, 2025

Between setting a budget, getting pre-approved, and closing the deal, getting everything squared away can make all the difference. You may have saved enough for your down payment, but make sure to also account for closing costs, taxes, insurance, and any other unforeseen expenses that may arise. How many bedrooms do you need?

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Redfin

JUNE 17, 2025

Accepting a contingent offer on your home can feel like a gamble – but it doesn’t have to. The short answer to whether you should accept a contingent offer on your house is that it depends. If the buyer wants to continue with the sale, they can request repairs or lower the purchase price. The short answer is that it depends.

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Rochester Real Estate

NOVEMBER 5, 2015

If major issues are highlighted in the inspection report, you can negotiate with the seller over repairs, or they could credit you. If you have an inspection contingency, you can back out of your purchase if serious problems are found. This will also tell you the money that needs to be paid on closing day. Contact Me!

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Purchase and sale agreement Earnest money deposit Pre-approval Debt-to-income ratio 52

Redfin

MARCH 4, 2025

Whether youre looking at homes for sale in San Antonio, TX , or in Wilmington DE , there are options for you. There are several types of foreclosure sales – auctions, bank-owned properties, government-owned properties, preforeclosures, and short sales. Auctions The most common type of foreclosure sale is by an auction.

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Redfin

MARCH 7, 2025

Since the home inspection is primarily for the buyer’s benefit, ensuring the property is in good condition before finalizing the sale, the buyer usually covers the cost. While it’s not the norm, there are situations where the seller pays for the home inspection. Is a home inspection required when buying a home?

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Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles Should I Waive My Home Inspection When Buying A House? They have put in offers on several homes and all of them were purchased by others who were willing to waive the home inspection.

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Redfin

JULY 11, 2025

This good-faith payment, typically 1% to 3% of the purchase price, is held in escrow and applied to your down payment or closing costs if the sale goes through. That means if the sale is completed, the money is not refunded – it’s credited toward what you owe. When is earnest money refundable?

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Rochester Real Estate

NOVEMBER 5, 2015

Here are the top frequently asked questions that home sellers ask before listing a home for sale, questions relating to home value & pricing, questions relating to contracts, and questions relating to purchase offers. Frequently Asked Questions Before Listing Their Home For Sale When is the best time to sell my home?

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Rochester Real Estate

NOVEMBER 5, 2015

Skipping A Full Professional Home Inspection Due to the current state of many real estate markets, many homebuyers are electing to waive their home inspection. Buyers are finding that by including a home inspection contingency, that they’re losing out on home after home. chat_bubble close How Can I Help?

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HomeLight

FEBRUARY 20, 2025

As of December 2024, 18% of buyers waived the appraisal contingency , with other buyers waiving, for example, inspection contingencies to likewise make their offers more enticing to sellers. The appraisal contingency is there to protect the buyer in case of any issues surrounding your appraisal.

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HomeLight

APRIL 25, 2025

This guide will walk you through what you need to know, so youll be well on your way to achieving a quick, profitable sale. Sell Your House Fast in Maricopa With a Cash Offer Get an all-cash, no-obligation offer through HomeLights Simple Sale platform whenever youre ready. Receive your offer in 24 hours and close in as few as 10 days.

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Keeping Current Matters

JUNE 21, 2021

According to the Realtors Confidence Index from the National Association of Realtors (NAR), the average home is on the market for just 17 days – that means from start to finish, a house for sale in today’s climate is active for roughly 2.5 Just remember, there are certain contingencies you don’t want to forego. Bottom Line.

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Housing Wire

FEBRUARY 20, 2024

A housing market marked by relatively high interest rates and tight inventory — and punctuated by the practice of home inspection waivers to sweeten offers — are taking a bite out of business for home inspectors, who play a key role in the sales process by ensuring that buyers are not being sold a lemon of a house. and Canada.

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Realtor.com

OCTOBER 29, 2020

That’s why we’ve put together a home closing checklist, which outlines your action points in those few days leading up to settlement. Keep this closing process list handy to know you’ve done what you need to in order to close the deal. Get all contingencies squared away. Review your closing disclosure.

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HomeLight

MARCH 31, 2021

While researching the home sales process, you’ve likely come across the term “seller credit.” A seller credit is a type of seller concession where the seller offers the buyer money at closing to sweeten the deal. Seller credits are money the seller gives the buyer at closing. Source: (Annie Spratt / Unsplash).

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HomeLight

SEPTEMBER 30, 2020

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender. Short sales 101.

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Realty Biz

MARCH 19, 2021

Homeowners who’re looking to secure a quick sale might want to take it upon themselves to do a pre-listing home inspection with the aim of speeding up the sales process. Sellers that opt for a pre-listing inspection will be informed of any issues with their home that might impact its value.

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HomeLight

JUNE 9, 2023

A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet. The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. What are the most common contingencies?

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HomeLight

OCTOBER 30, 2020

But is the cash closing process always seamless? A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. With a mortgage, there are all kinds of things that can go wrong to delay closing — financing issues and appraisals coming in low are two of the most common.

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HomeLight

DECEMBER 31, 2020

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process. What does “sale pending” mean?

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HomeLight

OCTOBER 13, 2021

You’ve made it through the most challenging part of the homebuying process , and closing day is finally approaching. As you count down the days until you’re sitting across that big table with a pen in your hand, ready to sign all of those closing documents for buyers, you might want to reel in your excitement. Closing Disclosure.

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HomeLight

MARCH 2, 2023

People who live here love the proximity to some of the west coast’s best beaches, as well as being close to destinations like Disneyland, Joshua Tree National Park, and the deserts of Palm Springs. Closing costs in California average about 1% of the home’s sale price , and there are other pre-paid costs you might have as well.

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HomeLight

MARCH 6, 2023

The Bay Area is also close to beaches, national parks, and the wineries of Napa Valley. Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. Loans are between 3%-3.5%

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HomeLight

AUGUST 25, 2020

The overarching question, as you make your way down your pre-sale checklist , is likely something along the lines of: “How long is this going to take?”. home was on the market for an average of 24 days , with Ellie May estimating an average of 46 days to close on a purchase loan. Your sale could be different.

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HomeLight

JANUARY 31, 2024

You can then make a strong offer on your next home with no home sale contingency. Learn More What does contingent mean? In real estate, when a house is listed as “ contingent ,” it means the sale of the property is conditional upon certain criteria being met.

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HomeLight

JANUARY 10, 2024

In the world of real estate, a contingent offer on a home means that the purchase is conditional upon certain terms being met. These conditions, or contingencies, act as safeguards for both the buyer and seller. Essentially, they provide a way to back out of the sale if specific criteria aren’t fulfilled without facing penalties.

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Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

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HomeLight

OCTOBER 29, 2021

You still have to make it through the house closing process, where inspections , credit problems, or paperwork issues can trip you up. The closing process fills several weeks as you navigate through multiple steps to make it to the closing table. How long does the house closing process take?

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HomeLight

MARCH 20, 2023

That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. Most often, this type of scenario calls for a home sale contingency. Find a Buyer's Agent What is a home sale contingency? If the buyer’s current home sells, the sale of the new home can proceed.

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