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. When you remove the possibility of your buyers backing out, you’re giving that seller peace of mind that your clients are in it to win it. In fact, I suggest quite the opposite.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

APRIL 19, 2021

Inspections & attorneys. Jean Chou , the principal attorney at JLC & Associates , advises her clients who buy in smaller buildings to schedule their own inspections as part of the homebuying process. Getting the necessary approvals can take up to four months, so plan for this ahead of time. Flood zones in the city?

Earnest money deposit 61

Earnest money deposit Due diligence Inspection Agents 61

HomeLight

SEPTEMBER 11, 2020

Your offer will be stronger if you build in some wiggle room relating to factors that might seriously entice the seller to pick you: Can you offer rent-back? Determine how much earnest money to offer. The customary amount to put down as an earnest money deposit will vary based on your market.

Earnest money deposit 78

Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 78

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. Do they need to do a rent-back on the house, or do they want a quick close?

Closing 89

Closing Earnest money deposit Sales Inspection 89

HomeLight

JUNE 30, 2021

If your current house doesn’t sell, or the settlement doesn’t happen, as the buyer, you can walk away from your new purchase with your earnest money. There are lots of other kinds of contingencies — inspection contingencies, appraisal contingencies — but the sales contingency can be especially tricky. Ask for a rent-back clause.

Rent back 104

Rent back Inspection contingency Earnest money deposit Finance 104

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. Your home inspection reports.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

MARCH 20, 2023

Other common contingency clauses include: Inspection Contingency: If the buyer finds fault with the home inspection report, they can ask for the seller to make repairs, or they can cancel the contract within the contingency period. Offer a larger earnest money deposit. Money talks! Offer over asking price.

Home sale contingency 87

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 87