Realty Biz

NOVEMBER 11, 2020

When you begin an online search for a home, you may find some sale statuses you don’t fully understand. It is fairly obvious what is meant when homes have a status of “for sale” or “sold,” but some statuses may not be as clear. For example, if a home sale is contingent or pending, can you still make an offer?

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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. Home Sale Contingency.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 106

RIS Media

MAY 19, 2021

.” There are other statuses in the MLS listings like “Pending,” “Contingent,” “Coming Soon” and “Expired.” ” What do they mean and how will they affect your home sale? One of the most confusing things for buyers and sellers to understand is what contingent means vs. pending.

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

HomeLight

SEPTEMBER 22, 2020

Read on to get a full 360-degree explainer on the risks and rewards of asking buyers for their highest and best, with tips on how to pick a winner depending on your unique priorities for this sale. In Lunger’s market, he’s seen some listings ask for the highest and best on the very first day the home is listed.

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HomeLight

AUGUST 29, 2022

Research the market and determine where you would like to buy. As of June 2022, the median sales price of homes in Dallas county was $520,000. As of June 2022, the median sales price in Harris county was $241,500. As of June 2022, the median sales price in Travis county was $665,000. Get preapproved for a mortgage.

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Realty Biz

FEBRUARY 20, 2021

We will take an in-depth look at the most common real estate contingencies you need to understand when buying a home. Many buyers and sellers are not well educated about the intricacy of some real estate contingency clauses. Most buyers will have a home inspection contingency in their contract.

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Purchase and sale agreement Inspection contingency Earnest money deposit Home sale contingency 136

Dwell Real Estate

JUNE 24, 2021

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. Home inspection contingency A home inspection contingency could well be the most important one for home buyers.

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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. Home sales are moving quickly today because of limited inventory, causing lucky home sellers to see an increase in multiple bids or bidding wars.

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Backup offer Earnest money deposit Purchase and sale agreement Inspection contingency 98

Dwell Real Estate

JUNE 24, 2021

A contingent offer means that an offer on a property has been made and the seller has accepted it, but that the final sale is contingent upon certain criteria that have to be met. A seller might entertain other offers after a refusal, but won’t deal with another buyer until the contingent offer is settled in one way or another.

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Inspection contingency Earnest money deposit Pre-approval Inspection 40

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.

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Purchase and sale agreement Earnest money deposit Pre-approval Home sale contingency 96

HomeLight

NOVEMBER 29, 2021

Most purchase agreements have some terms in place that must be met for the deal to go through, such as having a home inspection completed. These are called contingencies, and they’re very common in a real estate sales contract. A contingency period is the amount of time a certain contingency has to be met.

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Purchase and sale agreement Home sale contingency Inspection contingency Earnest money deposit 95

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. What are their biggest concerns about the sale? Include an As-is Home Inspection Contingency.

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The Close

FEBRUARY 6, 2024

Offer a Sizeable Down Payment Make a big impression by offering a large earnest money deposit (EMD) to hold the contract. That’s not including the luxury market—the median sold price in my area in Florida is around $300,000. Offer Rent Back The possession date is often a point of negotiation in any sale.

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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. .

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Inspection Earnest money deposit Inspection contingency New Construction 145

CT Homes

OCTOBER 30, 2020

In many markets property values have taken off to levels not seen in well over a decade. Depending on your financial situation and the growth of your market it may be a great time to explore cashing out and selling your home. You can stand your ground, but the next buyer may find the same issues on their inspection.

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CT Homes

OCTOBER 30, 2020

In many markets property values have taken off to levels not seen in well over a decade. Depending on your financial situation and the growth of your market it may be a great time to explore cashing out and selling your home. You can stand your ground, but the next buyer may find the same issues on their inspection.

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Earnest money deposit Purchase and sale agreement Inspection Inspection contingency 52

HomeLight

APRIL 28, 2023

When the time comes to move, some tenacious homeowners in Texas are eager to take over the reins of their home sale and figure out how to sell a house by owner. Often, the decision to go for sale by owner (or “FSBO”) is motivated by a desire to save on agent commissions. Unsure about selling FSBO in Texas?

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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%. Real estate transfer taxes: 0.01%.

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Purchase and sale agreement Inspection MLS Inspection contingency 101

HomeLight

JANUARY 10, 2023

The median price of a California home hit $777,500 in November 2022 , which is a 3% decrease from the previous month, a sign that higher interest rates are slowing the real estate market in California. Moreover, homes are sitting on the market for longer and inventory is increasing. Average time on market: 24 days (November 2022).

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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 Started.

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HomeLight

JULY 31, 2020

There’s a house for sale that you want to buy. Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process. Repairs identified in the inspection. Requesting a reasonable decrease in the sale price based on the cost of repairs.

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Closing Purchase and sale agreement Title search Earnest money deposit 112

HomeLight

MARCH 31, 2022

price increase , pushing median sale prices to upward of $350,000. With such impressive sales figures, some sellers may be curious about how to sell a house by owner in Arizona — a decision that could help them save on agent commissions. Median sales price: $449,900 (Feb. Average days on market : 36 (April 2022).

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Purchase and sale agreement Inspection MLS Inspection contingency 91

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. How does an appraisal contingency work?

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Purchase and sale agreement Earnest money deposit Finance Inspection 56

HomeLight

JANUARY 27, 2021

Ready to hit the market, buy your dream home and conquer this whole homeownership thing? Not only should your agent close a lot of deals, but they should be able to demonstrate through their results how they’ve saved other buyers money and helped them close quickly. They’ll have specialized market information that others won’t.

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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). Which contingencies you included in your contract with the seller. What are contract contingencies? Common contract contingencies that let buyers back out of the deal.

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Earnest money deposit Purchase and sale agreement Sales Home sale contingency 96

HomeLight

JULY 26, 2022

Is it a yard sale? No…it’s a for sale sign!!! A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent. A “for sale by owner,” or FSBO (pronounced “fizz-bo”) home, is a home that is being sold by its owner who hasn’t hired a listing agent.

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Earnest money deposit Purchase and sale agreement Title Inspection 99

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? No sales contingency? Make sure your agent stresses that your offer doesn’t contain a sales contingency.

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Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 85

HomeLight

MARCH 6, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. The benefit of owning a house far outweighs what might be considered a higher interest rate in the current market.”

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HomeLight

MARCH 20, 2023

That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. Most often, this type of scenario calls for a home sale contingency. Find a Buyer's Agent What is a home sale contingency? If the buyer’s current home sells, the sale of the new home can proceed.

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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 93

HomeLight

MARCH 2, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. In competitive markets, cash offers could be more likely to be accepted by sellers with multiple interested buyers.

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Closing Earnest money deposit Sales Inspection 95

HomeLight

JULY 31, 2022

When you find a neighborhood you love, the next step is finding a home that’s for sale and in your price range. Oftentimes, especially in a seller’s market , finding a home takes more than setting up notifications on your favorite real estate app. Find a home. You can take a page from their book and leverage your network as well.

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HomeLight

JUNE 30, 2021

This is why many buyers make offers on their new home that include a sales contingency. With a sales contingency in your offer, you won’t have to close on your new home unless you’ve sold your old home. But a sales contingency could also make it harder to get an offer accepted.

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Rent back Inspection contingency Earnest money deposit Finance 104

HomeLight

MARCH 16, 2023

Do you need to connect with cash home buyers in Houston for a fast sale? Perhaps you’re relocating for your dream job in two weeks, but you don’t have the time or money to replace the roof on your University Place ranch that has sprung a leak. Need to Sell Your House Fast in Houston? No showings, no repairs, no open houses.

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HomeLight

OCTOBER 30, 2020

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. For example, let’s say the market crashes, and your 401(k) loses a huge amount of value overnight. Suddenly, you have less money than you realized.

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Closing Inspection contingency Title search Purchase and sale agreement 112

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.

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Earnest money deposit FHA loan Purchase and sale agreement Inspection 93

HomeLight

AUGUST 9, 2022

Earnest money is an amount — usually between 1% and 3% of the purchase price — offered to the seller as a sign of good faith. It shows them you’re serious about buying their home and that you’re able to put your money where your mouth is, so to speak. The money is delivered via cashier’s check or wire transfer.

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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.

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Earnest money deposit FHA loan Purchase and sale agreement Title 78