Remove Earnest money deposit Remove Staging Remove Title search
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Here’s What Your Real Estate Agent Means When They Say “We’re In Escrow”

Redfin

In this Redfin article, we’ll take a closer look at what being “in escrow” really means, how it works, and what to expect during this pivotal stage. When a home is in escrow, it means the buyer and seller have signed a purchase agreement, and an escrow account has been opened to securely hold the buyer’s earnest money deposit.

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What is Due Diligence in Real Estate?

Redfin

In some states, buyers may also pay due diligence money—a non-refundable fee paid directly to the seller in exchange for this inspection window. While not required everywhere, it’s an important part of the process in certain markets and is separate from the earnest money deposit. How the Process Works 3.

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7 Common Contingencies in Real Estate That Buyers Should Know

Redfin

Title contingency A title contingency gives the buyer the right to review the results of a title search and cancel the contract if any issues related to ownership or property rights are uncovered. The title company typically conducts this search shortly after the contract is signed.

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Home Buying Process Timeline: 17 Steps Every Buyer Should Know

Redfin

Decide on important terms like earnest money deposits, contingencies (inspection, financing), and closing dates that can make your offer stand out. During this time, your lender will finalize your mortgage, the home will be appraised and inspected, and a title search will be conducted.

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Closing on a House Checklist: 6 Things Home Buyers Must Do Before They Move In

Realtor.com

If the appraised value is less than the sale price, the contingency enables you to back out of the deal without forfeiting your earnest money deposit , says Bishoi Nageh , president of the Petra Cephas Team at Mortgage Network Solutions, in Somerset, NJ. If you spot any discrepancies, ask your lender to explain them.

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What You Need to Know If You’re Buying a Home from the Owner

HomeLight

At this stage, you’ll want to shop around and get preapproved by at least two different lenders to compare interest rates , closing costs , and terms. Title contingency. Also, be sure to include your earnest money deposit amount, closing dates, and who will be responsible for certain closing costs.

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What Does Contingent Mean in Real Estate Sales

Realty Biz

They will also get their earnest money deposit back , and the home will go back on the market. One of the standard contingencies in nearly all real estate contracts is delivering a clear title. Most of the time, when a home is at the contingent stage, sellers are still interested in offers from other parties.