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.

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 82

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. The inspection.

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Due diligence Inspection Pre-approval Pre-qualification 77

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. Earnest money protects the home seller in case a buyer backs out of a home sale after the offer was accepted.

Pre-approval 65

Pre-approval Purchase and sale agreement Marketing Inspection contingency 65

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. Your home inspection reports.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

MARCH 2, 2023

My Home California Down Payment Assistance : California Housing Finance Agency (CalHFA), offers first-time homebuyers deferred payment loans through both FHA and conventional programs, to assist with down payment and/or closing costs. Do they need to do a rent-back on the house, or do they want a quick close?

Closing 93

Closing Earnest money deposit Sales Inspection 93