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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Earnest money deposit Purchase and sale agreement Inspection contingency Inspection 112

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

FEBRUARY 6, 2024

You can then make a strong offer on your next home with no home sale contingency. Learn More What does contingent mean on a house listing? These conditions are put in place to protect both the buyer and the seller, ensuring that specific criteria are satisfied before the transaction proceeds to closing.

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Inspection contingency Home sale contingency Inspection Finance 112

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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Windemere Selling

JANUARY 19, 2022

The closing process in a real estate transaction finalizes the terms of an agreement between the buyer and seller, leading to the transfer of the property’s title. Before a buyer can hold the keys to their new home, and before a seller can celebrate the sale of their property, closing costs must be paid.

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HomeLight

DECEMBER 30, 2023

You may be building an online watchlist of homes you’re interested in seeing, but then you notice a label tagging your favorite property listing as “under contract” or “sale pending.” What buyer contingencies might put a listing back on the market? What buyer contingencies might put a listing back on the market?

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Home sale contingency Purchase and sale agreement Inspection contingency Inspection 113

Real Trends

DECEMBER 27, 2022

With a little bit of informed vigilance, you will be able to increase your rate of successful closes. Keep reading to learn about the reasons a deal is starting to slip and the warning signs that a deal will never close. How often does a pending home sale fall through? Once signatures have been completed, the deal is closed.

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Sales Home sale contingency Pre-approval Inspection 60

HomeLight

JULY 31, 2020

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.

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Closing Purchase and sale agreement Title search Earnest money deposit 116

HomeLight

NOVEMBER 1, 2021

Industry experts estimate that sellers can expect to pay anywhere from 6% to 10% of their home’s purchase price in closing costs when it’s time to sell. To top it off, buyers sometimes ask sellers to pitch in for their closing costs, too — another 2% to 3% of the sales price. Property inspections. Should you consider it?

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Closing costs Closing Seller concession Purchase and sale agreement 88

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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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

MARCH 31, 2022

Cash offers or flexibility in choosing a closing date can also be attractive enticements to a seller. But one of the most influential bargaining tools is eliminating contingency clauses, especially the seller contingency clause, also known as the home sale contingency. What is a contingency clause?

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 95

HomeLight

APRIL 29, 2021

As a seller, your home sale price and proceeds are very different numbers. You’ll need to subtract your closing costs to determine how much money you’ll walk away with after the sale. So, what are closing costs in Delaware? In Delaware, sellers typically pay 6% to 10% of the home’s sale price in closing costs.

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Closing costs Closing Seller concession Homeowner’s association 64

HomeLight

JANUARY 3, 2024

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 110

Norada Real Estate

APRIL 15, 2023

The length of time a house can be under contract can vary, but understanding the contingencies and obligations during this period can help both parties prepare for a successful closing. Purpose of Under Contract The purpose of the under-contract period is to allow both parties to fulfill any contingencies and prepare for closing.

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Realty Biz

JANUARY 9, 2024

From preparing your home for sale to negotiating offers, these tips will ensure a successful sale. Sometimes it stops their sale dead in its tracks until the errors are corrected. Understand the current market conditions, including recent sales, average time on the market, and pricing trends.

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Purchase and sale agreement Earnest money deposit Title search Title 96

HomeLight

FEBRUARY 14, 2024

Sell Your Raleigh House Fast With an All-Cash Offer Get an all-cash, no-obligation offer on your Boston home through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in as little as 24 hours and close in as few as 10 days. No showings, no repairs, no open houses.

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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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Redfin

JANUARY 26, 2022

One of these important pieces of paperwork is a purchase and sale agreement. . To help you navigate this document, we’ll go over what a purchase and sale agreement is, what makes up the agreement, and what happens after the agreement is signed. What is a purchase and sale agreement? Who drafts the purchase and sale agreement? .

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Purchase and sale agreement Earnest money deposit Sales Title 59

Realty Biz

APRIL 20, 2022

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.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 106

Real Trends

APRIL 11, 2023

Agents, has the fluctuating market made it more difficult to close deals this past year? Closing cost incentives Closing cost incentives can include owner’s and lender’s fees, escrow or settlement fees, transfer taxes and government recording fees. You are certainly not alone. In some areas of the U.S.,

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Seller concession Closing costs Purchase and sale agreement Inspection contingency 72

RIS Media

MAY 19, 2021

However, this is just the start with many things to do before the status changes to “Closed.” ” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” ” What do they mean and how will they affect your home sale?

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Realty Biz

OCTOBER 12, 2021

In August, they comprised just 29% of sales, far below the 40% of the market this segment traditionally makes up. Another big danger associated with maintenance costs is that it has become increasingly more common for buyers to waive the home inspection contingency to try and get their offer accepted.

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Inspection contingency Closing costs Inspection Closing 108

Realty Biz

SEPTEMBER 2, 2021

Usually, an agent will charge a percentage of the sales price (around 5-6 percent), while others may charge a flat fee. When you take closing costs, repairs, and other concessions to the buyer into account, a seller is actually looking at around 10 percent. These contingencies are put in place to protect the buyer’s interests.

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HomeLight

OCTOBER 30, 2020

As for whether you can sell a house as is without inspection — the answer is yes, it’s possible and does happen. And for sellers of distressed homes or inherited property, it can be an appropriate strategy to facilitate a streamlined closing. However, a buyer could still include an inspection contingency in the contract.

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Realty Biz

MARCH 13, 2024

If waiving inspection contingencies, have the home pre-inspected so you enter informed on its condition. Consider keeping your finance contingency for your protection. Carefully review the inspection report results and get contractor estimates for any significant repairs needed.

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HomeLight

FEBRUARY 26, 2021

These are all items that you may see listed for sale “as is” on sites like Facebook Marketplace or Craigslist. So how do “as is” sales in furniture and retail translate to “as is” sales in real estate? In fact, 95% of purchased homes undergo an inspection before closing. A couch with a red wine stain.

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HomeLight

JUNE 29, 2021

Your sale is more likely to close and close faster with a cash offer than with an offer that hinges on a mortgage approval. While all-cash offers used to be relatively rare, they now make up 25% of all home sales. Cash offers are more likely to close and close faster than those backed by a lender.

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Inspection contingency Proof of funds Inspection Pre-approval 62

HomeLight

NOVEMBER 29, 2021

You’ve found the house of your dreams, your offer has been accepted, and you’re ready and eager to reach the closing table. But first, you have to sell your old home, potentially secure financing, and secure a home appraisal (and likely an inspection) on your new house. How long is a contingency period?

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Purchase and sale agreement Home sale contingency Inspection contingency Earnest money deposit 104

Realty Biz

DECEMBER 31, 2020

In a nutshell, low-interest rates and slowing of the pandemic will bring more buyers to the marketplace but there will still not be enough houses for sale. You must have your financing preapproved and be working with a lender that will close the deal quickly. You should think long and hard before waving the inspection contingency.

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Realty Biz

MARCH 16, 2022

All-cash offers were found to be significantly more successful than other strategies that are commonly used in bidding wars, such as waiving the financing contingency or a pre-inspection. Bidding wars have grown more common in today’s marketplace as buyers rush to compete for a limited stock of homes for sale.

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HomeLight

JULY 31, 2020

To be clear, an all-cash offer means you won’t be getting a mortgage loan for any portion of the sale. This is important: if your real estate agent puts in an all-cash offer on your behalf, they will not include a financing contingency. The seller makes decisions based on the terms of your offer, including contingencies.

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Purchase and sale agreement Inspection contingency Proof of funds Finance 98

Realty Biz

NOVEMBER 10, 2021

Listed homes for sale are classified in different ways to help you understand how far along in the sales process they are. If you see a home listed as “active,” this means it is for sale with the sellers considering bids from potential buyers. Can I Still Buy a Contingent Property? Will the Contingent Home Sale Fail?

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Dwell Real Estate

JUNE 24, 2021

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. Home inspection contingency A home inspection contingency could well be the most important one for home buyers.

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Inspection contingency Earnest money deposit Pre-approval Inspection 40

Redfin

AUGUST 26, 2020

In case you’re thinking of waiving the home inspection contingency, you should also be aware that some lenders require a home inspection as a necessary step before they finalize your home loan. Home inspectors generally use a home inspection checklist to look for damage or other causes of concern.

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HomeLight

SEPTEMBER 9, 2020

A contingency means that you’re willing to purchase the home contingent on certain details checking out. Though you won’t need a financing contingency, you should consider an inspection contingency and an appraisal contingency. Get an inspection. Choose a settlement agent. Conduct a final walkthrough.

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Inspection contingency Proof of funds Inspection Title 111

HomeLight

SEPTEMBER 22, 2020

You’ve got an incredible opportunity to make the most of this deal, if only you can avoid tripping up before closing. Read on to get a full 360-degree explainer on the risks and rewards of asking buyers for their highest and best, with tips on how to pick a winner depending on your unique priorities for this sale. Your biggest fear?

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