Bigger Pockets

APRIL 25, 2023

How do you bounce back after waiving inspections, finding out your $100K rehab costs are actually $360K, losing your earnest money deposit, and ultimately having to walk away from your […]

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BAM Media

MARCH 5, 2025

A Strong Earnest Money Deposit A standard deposit is 5%, but serious buyers should consider going higher10%, 15%, or even more. The bigger the deposit, the stronger the commitment. Sellers want certainty, and a significant deposit shows that your buyer is serious.

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Rochester Real Estate

NOVEMBER 5, 2015

What To Expect From Your Listing Agent Why For Sale By Owners (FSBOs) Fail Blog Featured Articles Home Buying Home Selling LOCAL Rochester NY Articles Should I Waive My Home Inspection When Buying A House? Should I Have A Home Inspection When Buying A House Buying a home is a significant investment and one you want to be happy with.

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The Living Room

MAY 2, 2025

Prospective buyers should account for closing costs, inspections, and the ongoing maintenance associated with homeownership. Consider flexibility on closing dates, a solid earnest money deposit, and minimal contingencies to appeal to sellers.

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Redfin

MARCH 11, 2025

Its credited back to the buyer at closing: If the deal moves forward, your earnest money is applied toward your down payment or closing costs. However, if you back out of the deal for reasons not covered by contingencies (such as inspection or financing), you may forfeit the earnest money to the seller.

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Rochester Real Estate

NOVEMBER 5, 2015

The Essentials of Home Deposits When you make an offer on a house , you want the seller to take their property off the market. This isn’t without risk for the seller, and to show you are serious about the purchase, a good faith house deposit is required. The answer depends on who didn’t follow the contract properly.

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Redfin

MARCH 7, 2025

When buying or selling a home, the home inspection process plays a pivotal role in determining the condition of the property. One of the most common questions that come up during this phase is: who pays for the home inspection? What is a home inspection? A home inspection is a thorough evaluation of a propertys condition.

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Dwell Real Estate

JULY 10, 2020

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1 to 5 of the real estate purchase price as earnest money. (If

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Dwell Real Estate

JULY 10, 2020

The earnest money deposit—the cash you as a buyer offer to essentially call dibs on real estate—is one of the most important (and often misunderstood) parts of the home-buying process. In the Sarasota area, home buyers will usually put down anywhere from 1% to 5% of the real estate purchase price as earnest money. (If

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Redfin

FEBRUARY 28, 2025

Here are the key expenses: Earnest money deposit Down payment Closing costs Prepaid costs (taxes, insurance, interest) Moving costs Mortgage payments Mortgage insurance (if applicable) HOA fees (if applicable) Well use the median U.S. Earnest money deposit Earnest money is paid after a seller accepts your offer on a house.

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HomeLight

JUNE 23, 2022

Suppose the inspection uncovers issues that are unacceptable to the buyer. Finally, in very competitive markets, some buyers may choose to remove certain contingencies altogether, and have their earnest money “go hard,” meaning become non-refundable, after a certain period of time (such as after a very short inspection period).

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CT Homes

AUGUST 31, 2020

Even when you have a signed contract you still need the inspection, appraisal, insurance and closing to go off without a hitch. Overwhelming Home Inspections. Unless a buyer is paying cash or removing their physical contingencies upfront, the very first step in the post offer acceptance process is typically the home inspection.

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HomeLight

JANUARY 10, 2024

Most purchase agreements are contingent on two key items: home inspection and financing. Among the various types of contingencies, two stand out in most home purchase agreements: home inspection and financing. As a buyer, a home inspection contingency offers you a layer of protection. What does this mean to a seller?

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HomeLight

JUNE 29, 2022

Require a sizable earnest money deposit. An earnest money deposit is a way for buyers to show that they’re committed to following through with the home sale. Buyers make this deposit after they’ve made an offer and you’ve both signed the purchase agreement.

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HomeLight

JULY 12, 2024

Home inspections: Conduct a thorough inspection of the property to identify any issues that need addressing. Required repairs: Making necessary fixes based on inspection results. If the purchase agreement falls through and it’s determined to be the buyer’s fault, the seller usually keeps the money.

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CT Homes

NOVEMBER 24, 2020

I.e. they’re giving up the right to… perform further inspections review seller’s disclosures confirm clean ownership with a title report complete a final walkthrough… … in addition to plenty of other protections that are standard in a purchase contract. Long (Unnecessary) Inspection Periods.

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Realtor.com

OCTOBER 29, 2020

These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. It’s rarely advisable to waive an inspection contingency. Your home inspection reports. Bring the necessary documentation to closing.

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RIS Media

APRIL 1, 2021

– Loss of Earnest Money Deposit (EMD) and other financial liabilities. Some companies may blanket approve or other companies, like Real Estate eBroker, have the purchasers sign an Acting Against Broker’s Advice when removing important contingencies up-front before truly having an opportunity to inspect the property.

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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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Point2Homes

NOVEMBER 29, 2022

The earnest money deposit. Generally, these are detailed in the conditional offer and may relate to a favorable home inspection , the go-ahead for taking out a mortgage and clear title checks. Once selected, the account is typically opened when the buyer places their earnest money deposit into it.

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HomeLight

SEPTEMBER 16, 2022

Before inspections, you may fear the state of the home or the seller’s willingness to negotiate repairs if the home needs serious work. The earnest money and the option fee are credited to you at closing,” explains Bacak for buyers who move forward. Type of inspections needed for the buyer to do their due diligence.

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HomeLight

JANUARY 3, 2024

After you open escrow and the buyer submits a good faith earnest money deposit, some or all of the following contingencies may need to be addressed: The financing contingency will appear in contracts where a buyer needs to finalize a mortgage loan to purchase the home.

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Realty Biz

APRIL 17, 2023

You must put up an earnest money deposit when you buy a home. The purpose of earnest money is to show you're serious about buying. Many people refer to earnest money as a good-faith deposit. Earnest money deposits can be used as leverage in negotiations.

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HomeLight

JULY 26, 2022

In a best case scenario, negotiations go smoothly, the inspection doesn’t reveal any major issues, the appraisal comes in right where it should, and the whole process is very efficient (we’ll get into what could create some hiccups later on). Common contingencies include, but aren’t limited to: Inspection contingency.

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HomeLight

JANUARY 12, 2024

They are essentially clauses in your purchase agreement that are designed to protect you from unforeseen issues, like problems unearthed during a home inspection or difficulties securing financing. What is a loan contingency?

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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). All in all, contingencies can protect you and your earnest money deposit if certain conditions of the contract aren’t or can’t be met. Inspection contingency.

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Realty Biz

FEBRUARY 20, 2021

Home inspection: often called a due diligence contingency, will give the buyer rights to have the house inspected. 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.

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HomeLight

MARCH 2, 2023

While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. You will be responsible for ordering your own inspections with the help of your buyer’s agent, again, at your own cost.

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Realty Biz

MAY 24, 2022

You did get an earnest money deposit, didn’t you? It’s normal to stop trying to sell a house while waiting for an appraisal, a home inspection, final mortgage approval, and for the sale to close. When the sale closes, the earnest money is usually applied towards the purchase price.

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Point2Homes

JANUARY 31, 2023

For example, it’s common for real estate offers to be contingent on the results of the home inspection and appraisal , as well as whether the buyer is able to secure financing or not. If, after the home inspection, repairs need to be carried out, negotiations can continue. Stick to the essentials— home inspection , financing, etc.—and

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HomeLight

SEPTEMBER 1, 2022

While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. Earnest money deposit amount. Contingencies: Financing, home inspection, and appraisal. Closing date.

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HomeLight

MARCH 7, 2024

Sale price and terms: The agreed-upon price for the property and the terms of the payment, including the earnest money deposit amount and financing details. Contingencies: Conditions that must be met for the sale to proceed, such as home inspections, financing approval, and the sale of the buyer’s current home.

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Point2Homes

OCTOBER 20, 2021

Note that a home appraisal and home inspection are not the same things. A home appraisal is carried out by a professional appraiser who thoroughly inspects the property to determine its actual value. With that in mind, let’s take an in-depth look at what you need to know about real estate appraisals. Understanding a Home Appraisal.

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Redfin

MARCH 18, 2025

So, while you dont get a check for the amount you put down, the money is still going toward the home purchase. If your earnest money deposit is higher than your required cash-to-close amount, youll get the excess back. If you back out for one of these protected reasons, youll get your earnest money back.

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HomeLight

MARCH 6, 2023

While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. Listing agents should be getting a pre-title report and pre-inspections before a house even goes on the market,” he explains.

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HomeLight

SEPTEMBER 1, 2022

While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. Earnest money deposit amount. Contingencies: Financing, home inspection, and appraisal. Closing date.

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Redfin

JUNE 11, 2025

In this article: Home inspection contingency Appraisal contingency Financing contingency Title contingency Home sale contingency Home insurance contingency Kick-out clause FAQs about contingencies in real estate 1. Home inspection contingency This is one of the most frequently used contingencies in real estate.

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