HomeLight

MARCH 31, 2022

For instance, getting preapproved for a mortgage is imperative in the 2022 tight market. But one of the most influential bargaining tools is eliminating contingency clauses, especially the seller contingency clause, also known as the home sale contingency. What is a contingency clause?

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 88

HomeLight

MARCH 20, 2023

After all, few people can afford to hold two mortgages. At the same time, it usually does not make sense for buyers to sell their home without having a new one lined up to move into. So what options does that leave for the homebuyer who must also be a home seller ? Find a Buyer's Agent What is a home sale contingency?

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Home sale contingency Purchase and sale agreement Sales Earnest money deposit 97

HomeLight

JANUARY 4, 2022

According to a Q3 2021 study by ATTOM Data Solutions, all-cash home sales are at their highest level since the first quarter of 2015, with 34% of all single-family homes and condos purchased without financing. “In Who’s paying cash for houses? Reasons to sell your house for cash.

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HomeLight

APRIL 21, 2022

You found your new home and want to avoid carrying two mortgages. Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. Your house has been on the market three months or more.

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Inspection contingency Home sale contingency Pre-approval Agents 108

HomeLight

SEPTEMBER 11, 2020

Then, make sure you are only searching for, and writing offers for, homes you can truly afford. Get preapproved for a mortgage. The importance of getting preapproved for a mortgage can’t be overstated if you want your offer to be taken seriously. No sales contingency? Decide where you can be flexible.

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Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 89

HomeLight

JANUARY 28, 2022

These are some common contingencies in a traditional offer: Financing contingency : The buyer can leave the deal if they can’t obtain financing. Home sale contingency : The buyer’s existing home has to sell before they will purchase the home. It’s an option in a foreclosure situation.

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Purchase and sale agreement Investor Agents Sales 109

HomeLight

SEPTEMBER 23, 2021

Interest rates are another critical factor to take into consideration when deciding when to sell your home. When interest rates are lower , buyers are more inclined to purchase and finance a home. With low-interest rates, buyers can afford a larger mortgage than they would with higher interest rates.

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Rent back Home sale contingency Agents Sales 86