Redfin

JULY 21, 2025

Contingencies provide legal exits for specific situations. Backing out without cause may result in losing your earnest money deposit. Common contingencies include: Financing contingency: Protects buyers if they can’t secure a mortgage loan. When is an ideal time to back out?

Earnest money deposit

Redfin

JUNE 27, 2025

If major repairs are needed, you may be able to use the inspection report to negotiate repairs or a lower purchase price. If no agreement is reached and you have an inspection contingency, you can cancel the sale without penalty and get your earnest money back. How much money do I need to buy a home?

Pre-approval

Redfin

JULY 10, 2025

Credited toward the purchase price at closing Credited toward the purchase price if sale closes Fee amount 1-3% of the purchase price Often 0.1% of the purchase price, negotiated between the buyer and seller What is earnest money? Earnest money is a payment a buyer makes to show commitment to buying the property.

Due diligence

Redfin

JULY 9, 2025

Are you looking at homes for sale in Juneau, AK or Miami, FL ? Work with your agent to determine a competitive price based on recent sales, current market demand, and how many buyers are interested. This deposit shows the seller you’re serious about the purchase and holds your place in the deal. How many bedrooms do you need?

Pre-approval

Redfin

MARCH 7, 2025

Since the home inspection is primarily for the buyer’s benefit, ensuring the property is in good condition before finalizing the sale, the buyer usually covers the cost. For example, a buyer who skips the inspection to make their offer more competitive may later discover costly issues like a leaking roof or faulty wiring.

Inspection

Rochester Real Estate

NOVEMBER 5, 2015

If your offer is accepted, you will sign a purchase agreement and pay an earnest money deposit. Home Inspection The home inspection will show if this is a property you want to buy. If major issues are highlighted in the inspection report, you can negotiate with the seller over repairs, or they could credit you.

Purchase and sale agreement

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? When a home seller gets an offer that doesn’t have a home inspection contingency to complete the sale, they often jump on it.

Inspection

Redfin

AUGUST 4, 2025

” 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. You can strengthen your offer by offering a larger earnest money deposit or submitting a personalized offer letter.

Earnest money deposit

Redfin

AUGUST 5, 2025

Talk to the financial institution holding your money and ask if they’d provide a letter stating you’re able to make a cash purchase up to the specified amount. Offer a high earnest money amount Offer a high earnest money deposit when making a cash offer. Attach this document with your offer letter.

Earnest money deposit

HomeLight

JANUARY 10, 2024

In the world of real estate, a contingent offer on a home means that the purchase is conditional upon certain terms being met. These conditions, or contingencies, act as safeguards for both the buyer and seller. Essentially, they provide a way to back out of the sale if specific criteria aren’t fulfilled without facing penalties.

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. If something is wrong, you can request that it be fixed—or you can back out of the sale. Clear the title.

Closing

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

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.

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

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.

Purchase and sale agreement

HomeLight

SEPTEMBER 11, 2020

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

Earnest money deposit

HomeLight

JANUARY 3, 2024

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

Purchase and sale agreement

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?

Backup offer

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. However, a higher deposit can be more attractive to sellers and make your offer stand out in competitive markets.

Closing

Realty Biz

DECEMBER 5, 2022

How to Negotiate Problems Found at a House Inspection. What Will Happen After a Home Inspection? The home inspection contingency in a real estate contract allows the buyer to back out of the sale when there are issues. The buyer can have their earnest money deposit returned when this happens.

Inspection

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. However, a higher deposit can be more attractive to sellers and make your offer stand out in competitive markets.

Earnest money deposit

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.

Home sale contingency

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. 260,000 offer with financing and inspection contingency, 60-day close. 248,000 offer with all contingencies waived, 30-day close.

Earnest money deposit

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.

Earnest money deposit

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.

Purchase and sale agreement

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.

Purchase and sale agreement

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.

Purchase and sale agreement

Realtor.com

SEPTEMBER 18, 2020

” Why people are waiving home inspections during the COVID-19 era. Offers that waive a home inspection contingency can be more attractive to home sellers since there’s less likelihood that the buyers will find some expensive problem that they’ll demand is fixed before they move forward.

Inspection

Norada Real Estate

APRIL 15, 2023

Definition of Under Contract The term “under contract” refers to the period after a seller accepts a buyer's offer, but before the sale is finalized at closing. Purpose of Under Contract The purpose of the under-contract period is to allow both parties to fulfill any contingencies and prepare for closing.

Earnest money deposit

First Team Real Estate

AUGUST 8, 2021

Home sales are moving quickly today because of limited inventory, causing lucky home sellers to see an increase in multiple bids or bidding wars. The only way around re-listing is to accept backup offers, so during the planning phase of your home sale, talk to your listing agent about the pros and cons of backup offers.

Backup offer

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. With cash, buyers are able to waive common contingencies, making the deal smoother and faster (not to mention sweeter for the seller). Because it’s fast.

Closing

Redfin

JANUARY 26, 2022

One of these important pieces of paperwork is a purchase and sale agreement. . To help you navigate this document, we’ll go over what a purchase and sale agreement is, what makes up the agreement, and what happens after the agreement is signed. What is a purchase and sale agreement? Who drafts the purchase and sale agreement? .

Purchase and sale agreement

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. If you decide that you are not willing to proceed with the sale because of the scope of the problems, then this will be your first chance to walk away. Find a home. Purchase price.

Earnest money deposit

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.

Earnest money deposit

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.

Earnest money deposit

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. He adds that negotiations and home inspection issues could further reduce the price by 10%.

Sales

HomeLight

JULY 31, 2021

Reports from the National Association of Realtors show that nearly a quarter of existing home sales were made with all-cash in the spring of 2021 — but how do you go about finding your cash buyer? Our guide aims to address the urgency of needing cash with the level of thought and care that a sale of this weight requires. Good bones.

Earnest money deposit