article thumbnail

What Does Contingent Mean in Real Estate?

HomeLight

The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. If you refuse and you can’t come to an agreement, they’re free to walk away.

article thumbnail

How Fast Can I Sell My House? It Can Take 75 Days or 12

HomeLight

The recent housing market has been hot and competitive due to an extreme lack of inventory. For a seller in a hurry, the shortage of homes means you can anticipate fewer days on market (DOM). How it might take 12-75 days to sell your home. Buyer’s financing method. What do days on market mean?

Insiders

Sign Up for our Newsletter

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

article thumbnail

Why Milwaukee is a Hotspot for Cash Home Buyers: Trends and Insights

Realty Biz

There are specific benefits to selling a home for cash in Milwaukee, such as faster transactions and avoiding complexities of financing. Factors driving cash home buying in Milwaukee include the rise of real estate investment companies, the desire for quick sales, and the appeal of renovation opportunities.

article thumbnail

How Does an Appraisal Gap Coverage Clause Work

Realty Biz

In the current real estate market, many property buyers choose to finance their purchases. However, with the current market heavily favoring sellers, quite a few buyers who would otherwise be taking out a mortgage are paying cash. Doing so will satisfy the lender and allow the sale to proceed. 400,000 vs. $384,000.

article thumbnail

How to Conduct a Smooth Real Estate Transaction

McKissock

Purchasing property, especially a home, can be a very emotional experience. In order to reach an acceptable agreement with the most favorable terms, make sure your buyers are aware of the market and the most important factors when constructing an offer. Number of days on market. Closing dates. Property insurance.

article thumbnail

How to Sell a House by Owner in Colorado

HomeLight

Higher interest rates have been cooling the housing market nationwide, and real estate in Colorado is no exception. Inventory is starting to rise along with the average number of days on market as of September 2022. Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%.

article thumbnail

How to Sell a House by Owner in Texas

HomeLight

When the time comes to move, some tenacious homeowners in Texas are eager to take over the reins of their home sale and figure out how to sell a house by owner. Often, the decision to go for sale by owner (or “FSBO”) is motivated by a desire to save on agent commissions. That 6% is deducted from the seller’s proceeds at closing.