HomeLight

SEPTEMBER 30, 2020

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender. Short sales 101.

Short sale 96

Short sale Closing costs Closing Sales 96

Point2Homes

DECEMBER 8, 2020

In this case, even though contingencies are still pending, the seller has decided that they will forego any more showings. Short Sale. Short sales occur when the seller will accept a lower amount than is remaining on their home loan. Notably, short sales don’t have the best completion percentage.

Purchase and sale agreement 145

Purchase and sale agreement Backup offer Home sale contingency Short sale 145

HomeLight

JULY 6, 2023

So what are the contract stipulations that put a listing into that “Contingent” stage, and how common is it for a property to hang in closing limbo? Here are 5 common contingencies in real estate contracts: Inspection contingency A buyer and their lender understandably want a home inspection to make sure they’re not investing in a lemon.

MLS 87

MLS Backup offer Inspection contingency Purchase and sale agreement 87

HomeLight

JANUARY 13, 2022

Inspection contingencies. Inspection contingencies mean that a buyer can get a home inspected before the deal goes through, and can back out of the purchase with earnest money intact, depending on what the inspector finds. Inspection contingencies can be waived. Appraisal contingencies.

Backup offer 74

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 74

HomeLight

MAY 17, 2022

A short sale is a type of preforeclosure; when a homeowner stops making payments on their mortgage and owes more on the home than the house is worth in the current market, then they will need to sell the house for less than they owe, and the lender will be “short” on the amount of money they accept in the sale (hence the name).

Inspection 87

Inspection Banks Short sale Title 87

HomeLight

JULY 31, 2020

Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). Loan approval. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. is not a simple or finite one.

Closing 104

Closing Purchase and sale agreement Title search Earnest money deposit 104

HomeLight

APRIL 21, 2022

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. If specific criteria aren’t met, the deal can fall through; i.e., the sale is contingent upon various factors outlined in the offer.

Inspection contingency 102

Inspection contingency Home sale contingency Pre-approval Agents 102