HomeLight

MARCH 31, 2022

There are several contingency clauses typically found in a real estate contract: Appraisal contingency: This contingency allows you to walk away from the deal without penalty if you’re using a mortgage and the appraisal comes in lower than the asking price. Rent back to the seller.

Home sale contingency 79

Home sale contingency Sales Purchase and sale agreement Inspection contingency 79

The Close

FEBRUARY 6, 2024

The less your buyers need to finance, the less likely the deal will fall through. They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. Waive Your Financial Contingency Period Most buyer clients will use a mortgage to purchase a home.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

AUGUST 31, 2021

The associated contingencies , which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan. The most obvious contingency with an offer that requires financing is, of course, the financing itself. Though you can (and should!)

Due diligence 75

Due diligence Inspection Pre-approval Pre-qualification 75

Redfin

FEBRUARY 2, 2021

If you don’t have to use a lender, there’s no financing contingency, which shows the sellers that you will most likely not pull out of the deal due to financial issues. Waiving either the inspection contingency, the appraisal contingency, or both can be an effective way to win a bidding war.

Pre-approval 63

Pre-approval Purchase and sale agreement Marketing Inspection contingency 63

HomeLight

JUNE 30, 2021

There are lots of other kinds of contingencies — inspection contingencies, appraisal contingencies — but the sales contingency can be especially tricky. Without a sales contingency , you’d have to buy your new home even if you hadn’t yet sold your current house. Ask for a rent-back clause.

Rent back 104

Rent back Inspection contingency Earnest money deposit Finance 104

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. Review your closing disclosure.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

FEBRUARY 28, 2022

If so, you’ll want to decide what kind of contingency you plan to include with the listing. You could try to find a buyer who will allow you to do a rent-back on the property, but if that isn’t available, you may need to move into a temporary rental property. Figure out your finances.

Equity 118

Equity Debt-to-income ratio Closing Loans 118