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. It is essential to note that canceling after the inspection may result in losing the Earnest Money Deposit (EMD).

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

APRIL 19, 2021

to as high as 6% of the sale price, so be sure to leave room in your budget for your attorney and real estate agent, as well as for filing fees and other required deposits. A lot of times, it’s not unusual for a homebuyer to submit an offer, and they’re being asked to wire over 10% within a week” for an earnest money deposit.

Earnest money deposit 66

Earnest money deposit Due diligence Inspection Agents 66

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? No sales contingency? Make sure your agent stresses that your offer doesn’t contain a sales contingency. Determine how much earnest money to offer.

Earnest money deposit 92

Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 92

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 99

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 99

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

Closing 103

Closing Earnest money deposit Sales Inspection 103

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. Source: (LinkedIn Sales Solutions / Unsplash).

Rent back 104

Rent back Inspection contingency Earnest money deposit Finance 104

Realtor.com

OCTOBER 29, 2020

If something is wrong, you can request that it be fixed—or you can back out of the sale. Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. Most sales contracts allow buyers to do a walk-through of the home within 24 hours before closing.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139