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.

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Purchase and sale agreement Inspection contingency Earnest money deposit Home sale contingency 136

Realty Biz

JULY 1, 2023

Navigating the escrow process is a critical aspect of home buying, ensuring a secure and smooth transaction for both buyers and sellers. Escrow acts as a neutral third party that holds funds and documents until all conditions of the home purchase are met. Selling your home can be a bumpy journey.

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Purchase and sale agreement Earnest money deposit Title search Pre-approval 76

RIS Media

MAY 19, 2021

.” 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? Despite this, there can still be room to negotiate the conditions of the sale.

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Purchase and sale agreement Earnest money deposit Inspection contingency Home sale contingency 98

HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). These are the top home closing delays that could affect if and when you close on your new home, and how to overcome them.

Closing 113

Closing Purchase and sale agreement Title search Earnest money deposit 113

Redfin

MARCH 2, 2023

Regardless of your experience, navigating the housing market can be daunting, especially when it comes to understanding the complex jargon and legalities involved in purchasing a property. One important concept that all homebuyers should be familiar with though is the appraisal contingency. What is a contingent offer?

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Purchase and sale agreement Earnest money deposit Finance Inspection 59

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. At the same time, it usually does not make sense for buyers to sell their home without having a new one lined up to move into. Most often, this type of scenario calls for a home sale contingency.

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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 95

HomeLight

OCTOBER 20, 2020

As any seller would be, you’re thrilled when an offer comes in for your property — but that excitement fades when you find out it’s contingent on the sale of the buyer’s home. You’re hesitant to put all of your proverbial eggs in one buyer’s basket when the sale might never actually happen.

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Backup offer Purchase and sale agreement Earnest money deposit Home sale contingency 58

HomeLight

JANUARY 3, 2023

Year-over-year, monthly sales in the Phoenix metro area were down nearly 25%. Often, the decision to go for sale by owner (or, “FSBO”) is motivated by a desire to save on agent commissions. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Colorado.

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Purchase and sale agreement Inspection MLS Inspection contingency 103

HomeLight

MARCH 31, 2022

Early 2022 data from Florida Realtors® indicates a 23% increase in median sales price and a 33.3% With such impressive sales figures, some Florida sellers may be curious about how to sell a house by owner in Florida — a decision that could help them save on agent commissions. Average home sale price in Florida: $530,419 (Jan 2022).

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Purchase and sale agreement Inspection Title MLS 95

HomeLight

MARCH 31, 2022

price increase , pushing median sale prices to upward of $350,000. With such impressive sales figures, some sellers may be curious about how to sell a house by owner in Arizona — a decision that could help them save on agent commissions. What's Your Arizona Home Worth? Median sales price: $449,900 (Feb. 2022 , a 28.5%

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Purchase and sale agreement Inspection MLS Inspection contingency 94

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). Is earnest money refundable?

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Earnest money deposit Purchase and sale agreement Due diligence Home sale contingency 109

HomeLight

OCTOBER 1, 2020

But for some buyers, that excitement can quickly turn to anxiety when it comes time to sign the purchase contract. Will you lose your deposit? Once you and the seller sign the purchase agreement, things start to get real. Common contract contingencies that let buyers back out of the deal. Financing contingency.

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Earnest money deposit Purchase and sale agreement Sales Home sale contingency 97

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?

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Earnest money deposit Purchase and sale agreement Title Inspection 101

HomeLight

SEPTEMBER 11, 2020

The seller will either accept your offer (in which case it becomes your purchase agreement ), or will counter your offer (you can accept or counter again), or the seller could also flatly decline. No sales contingency? Are you a first-time homebuyer, or have you already sold your home? Outline your contingencies.

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Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 87

HomeLight

JULY 31, 2022

Find a home. When you find a neighborhood you love, the next step is finding a home that’s for sale and in your price range. If you decide that you are not willing to proceed with the sale because of the scope of the problems, then this will be your first chance to walk away. Earnest money.

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Earnest money deposit Agents Purchase and sale agreement Title 94

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 113