Redfin

JULY 11, 2025

These protections usually come in the form of contingencies , which are clauses that allow you to walk away from the sale without penalty if certain conditions aren’t met. If this happens and they’ve included the right contingency, the buyer can usually walk away with their earnest money deposit.

Earnest money deposit

Redfin

JULY 10, 2025

Often refundable if contingencies aren’t met Typically non-refundable When Paid? After offer acceptance At the start of the due diligence period Purpose Shows buyer commitment and secures the contract Compensates seller for taking property off the market Applied to purchase? >> Read: What Happens to Earnest Money as Closing?

Due diligence

Redfin

MARCH 7, 2025

While the buyer is usually responsible, there are some exceptions, especially if the seller is motivated or the buyer is in a highly competitive market. When do sellers pay for the home inspection? While it’s not the norm, there are situations where the seller pays for the home inspection.

Inspection

Redfin

JULY 9, 2025

The right agent will have expertise on the housing market , understand the area inside and out, be familiar with local listing agents, and know how to negotiate. Ask your agent targeted questions about the property’s history, neighborhood, and market trends. Their insights can reveal hidden pros and cons you might miss. >

Pre-approval

Rochester Real Estate

NOVEMBER 5, 2015

After the chaos of the pandemic and a booming seller’s market, 2023 might be a better time to buy a house. A pre-approval letter must be included, and proof of funds can also help in a seller’s market. The seller might return with a counteroffer based on your offer’s price, contingencies, or other terms.

Purchase and sale agreement

Redfin

AUGUST 4, 2025

Research the local market Understanding the fair market value of a home is critical. ” Focus on: Sale prices of homes with similar size, age, and features The average price per square foot How long properties are staying on the market Also, look at the broader market trends. .” Don’t ignore market context.

Earnest money deposit

Rochester Real Estate

NOVEMBER 5, 2015

One common exception to making your offer contingent on getting a home inspection is if the seller has recently had such an inspection done. Sometimes they will do so before putting a home on the market so there aren’t any issues when they get an offer on it. Never assume a newer home can’t have any issues.

Inspection

Redfin

AUGUST 5, 2025

Buyers can benefit from the leg up in a competitive housing market, avoid mortgage fees and interest rates and save money in the long run. Reasons to make a cash offer on a house Buying a house with cash is more common in a seller’s market, which means that there is a high demand for an extremely limited pool of homes.

Earnest money deposit

Housing Wire

SEPTEMBER 9, 2024

The interviews revealed that buyers in some markets are more open to taking on some of the cost of compensating their agents. While Redfin agents are seeing more negotiations, it’s more common in some markets than others. We’ve found a tale of two markets,” Fairweather said.

Earnest money deposit

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

Earnest money deposit

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

Earnest money deposit

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.

Closing

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.

Earnest money deposit

HomeLight

JANUARY 3, 2024

To fully understand what “under contract” means, let’s take a look at some of the contingencies that might be attached to such a listing. There are four common types of real estate contract contingencies. Alternatively, if the conditions aren’t met, the house could go back on the market.

Purchase and sale agreement

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. This could involve losing part or all of your earnest money deposit.

Purchase and sale agreement

Realty Biz

DECEMBER 5, 2022

Home inspections over the last few years were few and far between. The crazy hot seller's market forced many home buyers into forgoing their inspection. With bidding wars being the norm and not the exception, many buyers were waiving their inspection to strengthen their offer. What Will Happen After a Home Inspection?

Inspection

HomeLight

JANUARY 12, 2024

It’s a step that could make your offer more attractive to sellers, but it’s not without ramifications and risks, and in some states, there are laws that dictate the process of removing a contingency. We’ll also share how, as an existing homeowner, you can make a stronger non-contingent offer to get the home you want.

Loan contingency

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.

Earnest money deposit

HomeLight

SEPTEMBER 22, 2020

In Lunger’s market, he’s seen some listings ask for the highest and best on the very first day the home is listed. I have to laugh, because two weeks later, the properties are often still on the market,” Lunger says. You overestimate your market. . 260,000 offer with financing and inspection contingency, 60-day close.

Earnest money deposit

Realtor.com

SEPTEMBER 18, 2020

Even in the midsize town in northern Alabama where we wanted to buy, the real estate market was nuts. This was especially problematic given home purchase contracts typically require an inspection be done within a week of the contract being signed by both parties. But waiving a home inspection comes with sizable risks. .

Inspection

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. One of the benefits of hiring a listing agent is their marketing expertise.

Earnest money deposit

Norada Real Estate

APRIL 15, 2023

Home Inspection Contingency One of the most common contingencies that can affect the length of the under-contract period is the home inspection contingency. This contingency allows the buyer to have the home inspected and negotiate repairs or credits with the seller.

Earnest money deposit

Realty Biz

APRIL 20, 2022

Let’s look at the most common contingencies in an offer and what they mean to buyers and sellers. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. One of the most common terms in an offer is the home inspection contingency clause.

Purchase and sale agreement

RIS Media

MAY 19, 2021

Not all sales will have contingencies with them, but most will. Common real estate contingencies include the following: Inspection Contingencies. The most common contingency is the home inspection contingency. Doing so could mean the forfeiture of their earnest money deposit.

Purchase and sale agreement

The Close

SEPTEMBER 10, 2020

A strong seller’s market is a lot like dealing with the craziness of this pandemic. Hating to lose more than I wanted to win, I came up with these seven creative strategies to make any offer stand out in a seller’s market. In a seller’s market, your buyer is going to have to move fast once they find a home they love.

Home sale contingency

HomeLight

MARCH 2, 2023

Henderson says that while connecting with a reputable agent who knows the San Diego market is important, one thing potential buyers should be sure to do is to align themselves with a great lender. The San Diego real estate market tends to follow seasonal trends, with prices rising after the holidays and into the summer.

Closing

HomeLight

SEPTEMBER 1, 2022

With the current shifting market, financing is heavily looked at, and there’s a preference for a local lender that understands the process here.”. Research the market and determine where you would like to buy. In competitive markets, cash offers could be more likely to be accepted by sellers with multiple interested buyers.

Earnest money deposit

HomeLight

SEPTEMBER 1, 2022

Research the market and determine where you would like to buy. While families relocating often means a more competitive market during the summer months, Raymer notes that at least during this year (2022), it hasn’t been as busy as the previous couple years. “We These loans also offer 0% down for qualified borrowers. Maria Raymer.

Earnest money deposit

First Team Real Estate

AUGUST 8, 2021

According to the latest National Association of REALTORS® Profile of Home Buyers and Sellers, the typical home sold last year was on the market for just three weeks. In that case, the home has to go back on the market, pushing your timeline out even further. Will backup offers have to submit earnest money?

Backup offer

HomeLight

OCTOBER 30, 2020

For example, let’s say the market crashes, and your 401(k) loses a huge amount of value overnight. You were planning to take money out of the account to cover your cash purchase. Suddenly, you have less money than you realized. “Why would you run into financing issues if you’re buying a home in cash?”.

Closing

HomeLight

NOVEMBER 29, 2021

They might have terms that say they will receive their earnest money deposit back without any negative consequences. But in other cases, a seller could be protected because the terms were specific that the buyer would have to secure financing during the allotted time, or the buyer’s earnest money would be forfeit.

Purchase and sale agreement

HomeLight

MARCH 6, 2023

The benefit of owning a house far outweighs what might be considered a higher interest rate in the current market.” Research the market and determine where you would like to buy Now that you know more about preparing to purchase a house and down payments, it’s time to decide where you want to live.

Earnest money deposit

HomeLight

JULY 31, 2022

Oftentimes, especially in a seller’s market , finding a home takes more than setting up notifications on your favorite real estate app. Agents have a network that they can tap into to find off-market properties, or pocket listings , and they use these connections to best serve their clients. Contingencies.

Earnest money deposit

Realty Biz

NOVEMBER 11, 2020

Let’s take a closer look at the meaning of contingent , so you can see how it might affect a home you are looking to buy. How your real estate agent markets your property when an offer has been accepted can have vital implications. For example, some agents will mark your home contingent, while others will mark pending.

Backup offer

Realty Biz

AUGUST 22, 2022

That’s probably why the price was a little below the market average. Yeah, I’ve been studying the market for a while and knew what houses were selling for. I didn’t even include an inspection contingency. While it is not yet a buyer’s market, buyers are in a much better place than they were a few short months ago.

Purchase and sale agreement

Redfin

AUGUST 29, 2024

You want to look for a real estate agent that understands the local market and can advocate for you during the homebuying process. Your real estate agent will know what is best for the housing market conditions. What’s an earnest money deposit? What is a home inspection contingency?

Earnest money deposit

HomeLight

JULY 31, 2021

If the whole house has been renovated recently and the seller wants full market value, they’re typically better off working with an agent.”. Step 2: Research your local cash buyer market. This can save you time and money —a study we conducted found that on average, homeowners spend nearly $5,500 prepping their home for the market.

Earnest money deposit