RIS Media

MAY 19, 2021

If the home inspection finds severe problems, or the seller doesn’t agree to repair or provide credits, the buyer can walk away. The home inspection can lead to some delays in the process, too, for around 10% of cases. Financing or Mortgage Contingencies. Appraisal Contingencies. Title Contingencies.

Purchase and sale agreement 98

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

Realty Biz

FEBRUARY 20, 2021

Most buyers will have a home inspection contingency in their contract. In extreme seller’s real estate markets, it is not uncommon for buyers to waive a home inspection as a way of sweetening their offer. This could involve losing part or all of your earnest money deposit.

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

Realty Biz

JULY 1, 2023

Depending on how far along in the escrow process you are, this can be done in a variety of ways: Providing a deposit - If you have not yet made an offer on a home, consider providing an earnest money deposit as your first step. Typically, a minimum credit score of 620 is recommended for conventional loans.

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Purchase and sale agreement Earnest money deposit Title search Pre-approval 75

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.

Purchase and sale agreement 58

Purchase and sale agreement Earnest money deposit Sales Title 58

HomeLight

MARCH 20, 2023

After all, few people can afford to hold two mortgages. 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. So what options does that leave for the homebuyer who must also be a home seller ? Find a Buyer's Agent What is a home sale contingency?

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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 89

HomeLight

JULY 31, 2020

These are the top home closing delays that could affect if and when you close on your new home, and how to overcome them. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Image Source: (Shutterstock.com/Chokniti Khongchum). Loan approval. Dodge move.

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Closing Purchase and sale agreement Title search Earnest money deposit 107

HomeLight

OCTOBER 20, 2020

In addition, some buyers (about 6% according to NAR’s most recent measure) will add a contingency to accommodate the fact that they need to sell their current home before purchasing yours. This is called the “home sale” contingency. An ideal situation would be to receive an offer without a home sale contingency.

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Backup offer Purchase and sale agreement Earnest money deposit Home sale contingency 56

HomeLight

JUNE 23, 2022

However, if the buyer terminates the contract for any other reason not specified in these conditions, the seller is typically entitled to keep the earnest money as a concession for the time they took the home off the market to enter into the exclusive agreement. Is earnest money refundable?

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Earnest money deposit Purchase and sale agreement Due diligence Home sale contingency 105

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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Purchase and sale agreement Earnest money deposit Finance Inspection 58

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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Purchase and sale agreement Inspection MLS Inspection contingency 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 86

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 87

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? Then, make sure you are only searching for, and writing offers for, homes you can truly afford. Hire the right agent.

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Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 81

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). They’re protective clauses you put in your contract with the seller that allow you an out if certain conditions of the sale aren’t met. Financing contingency.

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

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. Get preapproved for a mortgage.

Earnest money deposit 93

Earnest money deposit Purchase and sale agreement Title Inspection 93

HomeLight

JULY 31, 2022

You can check to see how much you could qualify for in just a few minutes with a mortgage loan calculator, but it will take some time to gather all of your information and submit it to a lender when you’re getting a preapproval or underwritten preapproval. Without an agent, you will need to do all comparable sales research yourself.

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Earnest money deposit Agents Purchase and sale agreement Title 86

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. Makes sense, right?

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Closing Inspection contingency Title search Purchase and sale agreement 108