HomeLight

DECEMBER 31, 2020

Things that could derail a sale during the sale pending period include: The home inspection. Contingencies that fail to be met or lifted. The buyer’s financing with a lender. Most buyers will add a number of contingencies to the contract, such as the home inspection, appraisal, and financing contingency.

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Closing Backup offer Sales Inspection 104

HomeLight

SEPTEMBER 1, 2020

Make sure the offer includes any important contingencies, such as an inspection contingency. Step 9: Order an inspection. As previously mentioned, your offer should contain an inspection contingency, meaning that the property needs to pass inspection in order for your offer to remain valid.

Banks 80

Banks Inspection contingency Inspection FHA loan 80

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. Financing issues. Makes sense, right?

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Closing Inspection contingency Title search Purchase and sale agreement 112

HomeLight

SEPTEMBER 10, 2022

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). Such contingencies often give the buyers limited time, such as 30, 60, or 90 days to sell their old home. An inspection contingency.

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Purchase and sale agreement Home sale contingency Sales Inspection contingency 97

HomeLight

MAY 28, 2021

However, it’s vital to do your due diligence before buying a home as-is to protect yourself or you might just end up wasting your investment on a money pit. A seller may lack the resources or finances to complete repairs at the moment and doesn’t want to have that contingency to sell the home.

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As-is Inspection Title search Inspection contingency 72

HomeLight

MARCH 13, 2023

Insurance companies may not insure homes with aluminum wiring or Federal Pacific Stab-Lok electrical panels due to the greater risk of fire. You are either replumbing the house, rewiring the house, or putting a new roof on the house prior to closing so that a financed buyer can get insurance.

Sales 83

Sales Investor Due diligence Renovation 83

HomeLight

AUGUST 9, 2022

How much you’ll put down depends on the specifics of your finances, and what kind of mortgage you’re getting. Drew May , a leading real estate agent in Augusta, Georgia, where Fort Gordon is located, says there is “no better financing” than a VA loan for military buyers. A word to the wise: proceed with caution.

Earnest money deposit 97

Earnest money deposit VA loan Purchase and sale agreement FHA loan 97

HomeLight

JULY 26, 2022

If the seller is working with a listing agent, their agent will more than likely have already done their due diligence to make sure they are able to sell their home. When you make an offer, be sure to include any contingencies that you want fulfilled. Common contingencies include, but aren’t limited to: Inspection contingency.

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Earnest money deposit Purchase and sale agreement Title Inspection 99

HomeLight

OCTOBER 29, 2020

Contingencies can range from the relatively minor or otherwise workable — like requesting a $3,000 allowance to fix a plumbing issue that was revealed during inspection — to more serious stipulations, such as a buyer needing to sell their existing house before closing on the next. Negotiable contingencies. Home inspections.

Purchase and sale agreement 79

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 79

HomeLight

AUGUST 24, 2022

Buyers are still going to do their inspection, they’re going to do their own due diligence and they are going to be paying their inspector. One inspector might make a bigger issue out of something then another inspector is going to do,” so Auslander doesn’t always recommend getting a pre-listing inspection.

As-is 100

As-is Inspection Investor Closing costs 100

HomeLight

JULY 31, 2021

Brian Martucci , a personal finance expert for Money Crashers , says that cash buyers tend to target the types of properties and sellers that reinforce the inherent advantages of their strategy. A 10-day closing translates as getting your home sold around five times faster than with a buyer who needs financing in today’s market.

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Earnest money deposit Inspection Proof of funds Inspection contingency 98

HomeLight

SEPTEMBER 15, 2021

The mortgage lender might require a copy to finance the sale, so it would be good to have copies available just in case.”. Most buyers will obtain their own inspection and will not trust the seller’s prior inspection report, so a preemptive report could be duplicative.”. Home inspection report. Quite a bit.

Purchase and sale agreement 113

Purchase and sale agreement Inspection Title Pre-approval 113

HomeLight

MARCH 16, 2023

You don’t need the added stress that comes with the risk of the buyer’s financing falling through or a home inspection turning up unpleasant surprises. Less hassle: You won’t need to worry about showings, open houses, fielding offers, negotiating, low appraisals, or the risk of the buyer’s financing falling through.

Sales 67

Sales Purchase and sale agreement Earnest money deposit Investor 67