Remove Earnest money deposit Remove Inspection contingency Remove Land
article thumbnail

What is Due Diligence in Real Estate?

Redfin

In some states, buyers may also pay due diligence money—a non-refundable fee paid directly to the seller in exchange for this inspection window. While not required everywhere, it’s an important part of the process in certain markets and is separate from the earnest money deposit.

article thumbnail

Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In

Realtor.com

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. Clear the title.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Think The Cash Closing Process Is Always Fast? 11 Delays Buyers Should Watch Out For

HomeLight

With cash, buyers are able to waive common contingencies, making the deal smoother and faster (not to mention sweeter for the seller). However, an inspection contingency will often be used by any buyer, whether they’re using financing or paying cash. Think of it as an official map of the property.

article thumbnail

Your Ultimate Guide to Buying a Home in Connecticut in 14 Steps

HomeLight

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.

article thumbnail

What Does Contingent Mean in Real Estate Sales

Realty Biz

If these contingencies aren’t met, the buyer can walk away from the deal. They will also get their earnest money deposit back , and the home will go back on the market. The home could be subject to a few different types of contingency. Home Inspection Contingency.

article thumbnail

Big-City Convenience with Small-Town Charm: How to Buy a House in Arlington

HomeLight

Part of the original land designation for the nation’s capital, today Arlington operates as one of the smallest counties in the country with no cities. The high cost and limited availability of land mean most residents live in vertical developments. Waive home inspection contingencies — but NOT the home inspection.

article thumbnail

How to Get Cash for Your Home: A Step-by-Step Guide

HomeLight

When looking for properties to buy, he focuses on single- and multi-family homes rather than vacant land or mobile homes because they allow for “value-add.”. Earnest money deposit. Inspection period. Pay attention to the number of days allotted for the cash buyer to complete their inspection.