Realty Biz

FEBRUARY 20, 2021

Many buyers and sellers are not well educated about the intricacy of some real estate contingency clauses. Given they are significant legal terms in a purchase and sale, it is essential to have a strong working knowledge of how they work. Most buyers will have a home inspection contingency in their contract.

Purchase and sale agreement 135

Purchase and sale agreement Inspection contingency Earnest money deposit Home sale contingency 135

Realty Biz

APRIL 17, 2023

It is a form of assurance that the buyer is serious about buying the property and will follow through with the purchase. The amount of earnest money typically varies from 1-5% of the purchase price, depending on the buyer's agreement with the seller. Let's examine more closely how a buyer's funds can be returned.

Earnest money deposit 66

Earnest money deposit Purchase and sale agreement Home sale contingency Title 66

Redfin

MARCH 3, 2022

You’ll want to rethink purchasing that beautiful new couch and hold off on planning those backyard additions before the title has been cleared. From appraisal issues to home inspection roadblocks, there’s a lot that can go awry before finally closing on your property. Financing issues. How to remedy the situation.

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Closing Title search Purchase and sale agreement Title 63

HomeLight

JUNE 23, 2022

In many cases, if a homebuyer wants to back out of a contract and retrieve their earnest money, they’ll be able to find a way to do so within the confines of the real estate purchase contract. The typical amount is around 1% of the purchase price (ex. $5k 5k for a $500K home). The short answer is yes, usually.

Earnest money deposit 107

Earnest money deposit Purchase and sale agreement Due diligence Home sale contingency 107

HomeLight

SEPTEMBER 10, 2022

Say you’re visiting yard sales on a Saturday morning and you come across the perfect wicker patio set, exactly what you’ve been looking for. Understanding the implications of a kick-out clause can make the difference between buying the home you want and being saddled with two mortgages (or not being able to qualify for financing).

Purchase and sale agreement 92

Purchase and sale agreement Home sale contingency Sales Inspection contingency 92

HomeLight

OCTOBER 30, 2020

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. And if you add a home sale contingency into the mix (that is, if you need to sell your current home before you can buy a new one), closing the deal can take even longer. Not always!

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Closing Inspection contingency Title search Purchase and sale agreement 111

HomeLight

JULY 26, 2022

Is it a yard sale? No…it’s a for sale sign!!! You’ve found yourself a FSBO home. What is a FSBO home? A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent. Why would a seller want to list their home FSBO?

Earnest money deposit 94

Earnest money deposit Purchase and sale agreement Title Inspection 94