The Close

SEPTEMBER 10, 2020

When writing the offer with this strong of an approval letter, it allows you to have a shorter financing contingency time and more emphasis on the appraisal contingency time frame. Include an As-is Home Inspection Contingency. You guessed it: the home inspection. More on this in strategy six.

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Home sale contingency Pre-approval Earnest money deposit Marketing 115

HomeLight

MARCH 20, 2023

Most often, this type of scenario calls for a home sale contingency. With the help of real estate agent Jesse Allen , a single-family home expert in southern Indiana , we’ll help to explain the ins and outs of home sale contingencies, and offer additional alternatives for buyers who currently own a home.

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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 94

HomeLight

JULY 31, 2020

If this problem can’t be resolved, an appraisal contingency in the contract allows the buyer to cancel the agreement and retain their earnest money deposit. Repairs identified in the inspection. Asking for a home warranty to cover questionable or outdated features. Home sale contingency.

Closing 113

Closing Purchase and sale agreement Title search Earnest money deposit 113

HomeLight

JANUARY 3, 2023

Buyers may ask for the offer to be contingent on other factors, such as the sale of their existing home or their ability to obtain financing. Earnest money. The earnest money deposit is typically a small amount of money that goes into an escrow account to show that the buyer is serious.

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Purchase and sale agreement Inspection MLS Inspection contingency 102

Redfin

MARCH 2, 2023

However, before the sale can go through, the property must be appraised to ensure that the purchase price is fair and reasonable. If the appraisal comes back and values the property at $380,000, Bob has the option to either: Walk away from the deal and receive his earnest money deposit back.

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Purchase and sale agreement Earnest money deposit Finance Inspection 57

HomeLight

MARCH 31, 2022

Buyers may ask for the offer to be contingent on other factors, such as the sale of their existing home or their ability to obtain financing. Earnest money. The earnest money deposit is typically a small amount of money that goes into an escrow account to show that the buyer is serious.

Purchase and sale agreement 94

Purchase and sale agreement Inspection Title MLS 94

HomeLight

MARCH 31, 2022

Buyers may ask for the offer to be contingent on other factors, such as the sale of their existing home or their ability to obtain financing. Earnest money. The earnest money deposit is typically a small amount of money that goes into an escrow account to show that the buyer is serious.

Purchase and sale agreement 92

Purchase and sale agreement Inspection MLS Inspection contingency 92

HomeLight

OCTOBER 1, 2020

You now have skin in the game in the form of your earnest money deposit, plus you have a legal duty to buy the home (barring certain circumstances). According to the latest data from the Realtors Confidence Index (RCI), 76% of purchase contracts contain contingencies , and around 7% of contracts are terminated.

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Earnest money deposit Purchase and sale agreement Sales Home sale contingency 96

HomeLight

SEPTEMBER 11, 2020

Determine how much earnest money to offer. An earnest money deposit (also called a “good faith deposit”) is money that accompanies your offer and communicates your seriousness to the seller. The customary amount to put down as an earnest money deposit will vary based on your market.

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Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 86

HomeLight

JULY 26, 2022

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. Appraisal contingency. Financing contingency. Home sale contingency. Final walkthrough contingency. Title contingency.

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Earnest money deposit Purchase and sale agreement Title Inspection 100

HomeLight

JULY 31, 2022

The template will include your offer price, down payment amount, earnest money deposit, contingencies, and desired closing date. While a real estate agent won’t tell you exactly what to offer as a purchase price, they would give you some guidance as to the state of the market and what the home might be worth.

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Earnest money deposit Agents Purchase and sale agreement Title 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. Because it’s fast.

Closing 112

Closing Inspection contingency Title search Purchase and sale agreement 112