Redfin

JULY 30, 2025

In addition to getting pre-approved, having cash reserves prepared for your earnest money deposit and other closing expenses is also one of the top tips for making an offer on a house. In the average market, a typical earnest money deposit is 1-3% of the home’s purchase price.

Earnest money deposit

Redfin

JUNE 11, 2025

In this article: Home inspection contingency Appraisal contingency Financing contingency Title contingency Home sale contingency Home insurance contingency Kick-out clause FAQs about contingencies in real estate 1. Home inspection contingency This is one of the most frequently used contingencies in real estate.

Purchase and sale agreement

Redfin

MARCH 7, 2025

When buying or selling a home, the home inspection process plays a pivotal role in determining the condition of the property. One of the most common questions that come up during this phase is: who pays for the home inspection? What is a home inspection? A home inspection is a thorough evaluation of a propertys condition.

Inspection

Redfin

JUNE 27, 2025

Don’t skip critical steps like the home inspection or negotiating closing costs. Skipping the home inspection Some people waive the home inspection to speed up the buying process, but skipping this step can be costly in the long run. An inspection typically costs between $300 and $500, and it’s well worth the investment.

Pre-approval

Redfin

JULY 10, 2025

Earnest money is a refundable deposit held in escrow to show your serious intent to buy, while due diligence fees are usually non-refundable payments made directly to the seller to secure time for inspections and evaluations. of the purchase price, negotiated between the buyer and seller What is earnest money?

Due diligence

Redfin

JULY 11, 2025

When you make an offer on a home, you’ll usually include earnest money – a deposit that shows the seller you’re a serious buyer. This good-faith payment, typically 1% to 3% of the purchase price, is held in escrow and applied to your down payment or closing costs if the sale goes through.

Earnest money deposit

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. During this time, your lender will finalize your mortgage, the home will be appraised and inspected, and a title search will be conducted.

Pre-approval

Redfin

MARCH 18, 2025

This deposit is usually between 1% and 3% of the homes purchase price, but the amount can vary based on the local market and the agreement between you and the seller. This ensures that neither the buyer nor the seller can access the money prematurely, protecting both parties during the transaction. Youre using a no-down-payment loan.

Closing

Redfin

JULY 21, 2025

Backing out without cause may result in losing your earnest money deposit. If you’re having doubts, want to reassess your finances, or simply change your mind, doing so before any paperwork is signed allows for a clean exit without risking earnest money or triggering legal consequences.

Earnest money deposit

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

Redfin

FEBRUARY 18, 2025

These costs are in addition to the purchase price of the home (if you’re buying) or the proceeds from the sale (if you’re selling). Home inspection fees: The cost to professionally check the property is up-to-code and in good, habitable condition. VA loans A VA loan is a mortgage loan guaranteed by the U.S.

Closing costs

Redfin

JUNE 30, 2025

It typically includes: The purchase price Contingencies (like financing or inspections) Requests for the seller (such as covering closing costs or repairs) Other key dates (including response deadline, closing date, etc. home inspection, financing, appraisal) Is the timeline convenient? First, what is a real estate offer?

Earnest money deposit

Housing Wire

APRIL 9, 2025

Buyers are waiving inspections and doing appraisal gap clauses. I have even seen non-refundable earnest money deposits, Joe Tamburo, a Bergen County-based Coldwell Banker Realty broker, said. As recently as August 2019, Bergen County had an average of over 3,200 single-family homes for sale.

Earnest money deposit

Realty Biz

DECEMBER 5, 2022

One of the most vital phases of buying a house is having it inspected. 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. It has led to home inspections coming back in vogue again.

Inspection

Realtor.com

SEPTEMBER 18, 2020

When we finally did go under contract on this third home, we learned of another issue: Home inspectors in the area were booked for two weeks and up, but our contract stated that we had only seven days to get an inspection done. We got lucky, but it left me wondering: Is it ever OK to waive a home inspection?

Inspection

HomeLight

JUNE 23, 2022

Suppose the inspection uncovers issues that are unacceptable to the buyer. If the financing fails, the buyer can pull out of the contract with a full refund for earnest money as long as it’s before the specified deadline. The Home Sale Contingency typically stipulates the buyer will not pay two mortgages at the same time.

Earnest money deposit

HomeLight

JANUARY 10, 2024

Most purchase agreements are contingent on two key items: home inspection and financing. Essentially, they provide a way to back out of the sale if specific criteria aren’t fulfilled without facing penalties. Among the various types of contingencies, two stand out in most home purchase agreements: home inspection and financing.

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

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). They’re protective clauses you put in your contract with the seller that allow you an out if certain conditions of the sale aren’t met. What are contract contingencies?

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

HomeLight

JUNE 29, 2022

Before you post the “for sale” sign in your front yard, it’s important to prepare yourself for a critical part of the home-selling process : negotiating with buyers. Here are nine expert house negotiation tactics to help you on your way to a successful sale. Making enough money off the sale to fund the downpayment on a new home.

Earnest money deposit

CT Homes

AUGUST 31, 2020

Even when you have a signed contract you still need the inspection, appraisal, insurance and closing to go off without a hitch. Overwhelming Home Inspections. Unless a buyer is paying cash or removing their physical contingencies upfront, the very first step in the post offer acceptance process is typically the home inspection.

Earnest money deposit

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

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. Clear the title.

Closing

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 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

JULY 12, 2024

You can then make a strong offer on your next home with no home sale contingency. This ensures that both the buyer and the seller fulfill their respective obligations before the sale is finalized. During the escrow period, several key activities take place to ensure the home sale stays on track.

Purchase and sale agreement

Point2Homes

NOVEMBER 29, 2022

The earnest money deposit. Generally, these are detailed in the conditional offer and may relate to a favorable home inspection , the go-ahead for taking out a mortgage and clear title checks. Once in the escrow account, any money, deeds, paperwork and title checks are safe and secure. Homes for sale in Denver.

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

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

Realty Biz

FEBRUARY 20, 2021

Given they are significant legal terms in a purchase and sale, it is essential to have a strong working knowledge of how they work. The home buying contingencies below should be completely understood before signing on the dotted line of a purchase and sale agreement. This could involve losing part or all of your earnest money deposit.

Purchase and sale agreement

HomeLight

SEPTEMBER 16, 2022

Before inspections, you may fear the state of the home or the seller’s willingness to negotiate repairs if the home needs serious work. This enables the buyer to terminate the sale at any point during the allotted time. The option period and fee are finalized in the purchase contract terms of the sale.

Option period

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

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? Thus, the purchase agreement is “contingent” on the sale of the buyer’s existing home.

Home sale contingency

Realty Biz

APRIL 17, 2023

You must put up an earnest money deposit when you buy a home. The purpose of earnest money is to show you're serious about buying. Many people refer to earnest money as a good-faith deposit. Earnest money deposits can be used as leverage in negotiations.

Earnest money deposit

HomeLight

MARCH 7, 2024

A home purchase agreement , often referred to as a real estate contract, is a legally binding document between a buyer and seller outlining the terms of a property sale. Sale price and terms: The agreed-upon price for the property and the terms of the payment, including the earnest money deposit amount and financing details.

Purchase and sale agreement

Realty Biz

MAY 24, 2022

We decided to sell our house as “for sale by owner” to save the agent’s commission. Because your buyer is saying it is about not taking out a mortgage at today’s interest rate, I’m thinking the earnest money is what you will primarily get from a failed sale of your house.

Earnest money deposit