Redfin

JANUARY 26, 2022

For instance, if the buyer’s home inspection turns up a problem with the home, the buyer may be able to negotiate a reduced purchase price. 2) Earnest money details: The PSA will include information on the earnest money deposit, such as the dollar amount and instructions for making the deposit.

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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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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 Asking for a home warranty to cover questionable or outdated features.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.

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Closing Purchase and sale agreement Title search Earnest money deposit 113

HomeLight

JANUARY 3, 2023

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%.

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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. Are you a first-time homebuyer ?

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HomeLight

MARCH 31, 2022

The seller’s market continues to boom in Florida. Early 2022 data from Florida Realtors® indicates a 23% increase in median sales price and a 33.3% drop in median time on the market. Once you’ve seen what’s required, you can roll up your sleeves and get started with your FSBO sale in Florida. Get Estimate.

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Purchase and sale agreement Inspection Title MLS 95

HomeLight

MARCH 31, 2022

While FSBO can work, it does come with some risks, including the possibility of selling your house for less than market value. What's Your Arizona Home Worth? We’ll also provide a comprehensive overview on the full process to prep, market, and close on your home without the assistance of a real estate agent.

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Purchase and sale agreement Inspection MLS Inspection contingency 93

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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HomeLight

SEPTEMBER 11, 2020

Even a pandemic failed to slow down the 2020 real estate market. Yes, writing a high offer will incentivize the seller, but money isn’t the only factor! Does that mean a cash offer in your market? Are you interested in a property that has been on the market for some time? Determine how much earnest money to offer.

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HomeLight

JULY 26, 2022

For sellers in neighborhoods with many recently sold homes, it can be easier to determine what their asking price should be based on estimated market value. The housing market can also play a role in the seller deciding to sell the home themselves. The home might be overpriced. Appraisal contingency.

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HomeLight

JULY 31, 2022

Spend some time in the neighborhood where you want to live, make friends at a coffee shop or favorite local restaurant, discuss your home search, attend open houses, and even send letters to homeowners asking if they’re willing to sell. Without an agent, you will need to do all comparable sales research yourself. Contingencies.

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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.

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Closing Inspection contingency Title search Purchase and sale agreement 112