Housing Wire

APRIL 11, 2023

Buyers, sellers and lenders all have a stake in the sale, and title and escrow ensure that everyone’s interests are protected. They also help to prevent fraud and ensure that the sale is conducted legally and ethically. This is especially important in today’s fast-paced real estate market, where time is of the essence.

Title search 384

Title search Title Purchase and sale agreement Preliminary report 384

HomeLight

JANUARY 3, 2024

Sometimes you come across a home for sale that checks off every box on your list, but the listing status says that it’s “under contract” or “sale pending.” In most cases, there are contingencies in the buyer’s offer that need to be cleared before the transaction is moved to the more solid “sale pending” status.

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Purchase and sale agreement Earnest money deposit Inspection contingency Pre-approval 105

HomeLight

JUNE 9, 2023

The final sale hangs in the balance, waiting for certain conditions or “contingencies” to be met. These conditions can be anything from the buyer securing a mortgage, the home inspection clearing, or the sale of the buyer’s current home. ” Step one: Talk to a few buyer's agents!

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Home sale contingency Inspection contingency Purchase and sale agreement Inspection 144

Realty Biz

SEPTEMBER 19, 2022

Question from Ellie in ID: Hi Brian, We had a purchase offer accepted more than four months ago but it hasn’t closed yet. Four months ago, we made the full-price offer with only a financing contingency, which is probably why the seller has been patient with us. In fact, our mortgage was just given final approval less than a week ago.

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Purchase and sale agreement Finance Inspection Mortgages 97

HomeLight

DECEMBER 30, 2023

You may be building an online watchlist of homes you’re interested in seeing, but then you notice a label tagging your favorite property listing as “under contract” or “sale pending.” What buyer contingencies might put a listing back on the market? If the buyer fails to secure financing, they can withdraw without losing their deposit.

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Home sale contingency Purchase and sale agreement Inspection contingency Inspection 108

Realty Biz

DECEMBER 15, 2022

These days, having a neutral third party to make sure everyone is satisfied with the sale and purchase can give both buyer and seller more peace of mind. . Many home buyers and sellers know that escrow is a financial arrangement with a third party who holds money or other property until the terms of the sale are complete.

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Purchase and sale agreement Inspection Title Closing costs 126

RIS Media

APRIL 12, 2021

A standard home purchase agreement typically includes contingencies. Purchase contracts typically include an appraisal contingency. If a home appraises for less than the agreed-upon sale price, the buyer can put a larger sum down, ask the seller to reduce the price or walk away. Types of Contingencies .

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Purchase and sale agreement Inspection contingency Home sale contingency Inspection 62

HomeLight

MARCH 13, 2023

A cash sale may provide the speed and efficiency you need. Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Buyers were liquid with cash and there are a lot of sellers going that route rather than waiting on a traditional sale.

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Sales Purchase and sale agreement Due diligence Inspection 96

Toronto Realty Blog

JANUARY 27, 2023

When the market is hot, fewer properties are sold conditionally, but some still are. And in a changing market, like the one we’re in right now, we’re accustomed to seeing many listings appearing as “sold conditionally” on MLS. Let’s say my house is on the market for $1,500,000.

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Purchase and sale agreement Sales MLS Closing 77

Realty Biz

FEBRUARY 20, 2021

Given they are significant legal terms in a purchase and sale, it is essential to have a strong working knowledge of how they work. Some of these clauses can benefit you when purchasing a home, so we will look at some of the contingency clauses you might encounter when buying a property. Real Estate Contingencies Explained.

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Purchase and sale agreement Inspection contingency Earnest money deposit Home sale contingency 136

Realty Biz

OCTOBER 20, 2023

The primary purpose of a home appraisal is to determine the fair market value of a property at a specific point in time. This value is based on a variety of factors, including the property's location, size, condition, and comparable sales in the area. However, even if you're buying a home with cash, you can still get an appraisal.

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Purchase and sale agreement Inspection Finance Loans 114

HomeLight

NOVEMBER 29, 2021

But first, you have to sell your old home, potentially secure financing, and secure a home appraisal (and likely an inspection) on your new house. Most purchase agreements have some terms in place that must be met for the deal to go through, such as having a home inspection completed.

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Purchase and sale agreement Home sale contingency Inspection contingency Earnest money deposit 99

Realty Biz

APRIL 20, 2022

What to Know About Terms and Conditions Found in an Offer to Purchase. It will state your offer price and many other clauses that could be crucial to the success of the purchase. Common Contingencies Found in an Offer to Purchase. Home Inspection Contingency. Mortgage Financing Clause.

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Purchase and sale agreement Home sale contingency Earnest money deposit Inspection contingency 106

HomeLight

SEPTEMBER 30, 2020

Unexpected setbacks and misfortunes happen, whether that stems from a dramatic housing market downturn, getting laid off, or any other wrenches that life (or a worldwide pandemic) throws into your plans. If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. Short sales 101.

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Short sale Closing costs Closing Sales 98

Realty Biz

DECEMBER 19, 2023

With a booming real estate market, affordable neighborhoods, and attractive investment opportunities, Milwaukee has become a hotspot for those looking to buy homes for cash or sell houses fast in Milwaukee for cash. But what exactly is driving this trend, and what insights can we gain from the local market?

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Purchase and sale agreement Finance Inspection Renovation 85

Realty Biz

JULY 1, 2023

Escrow acts as a neutral third party that holds funds and documents until all conditions of the home purchase are met. Step 1: Initiating the Transaction Learning about escrow and initiating the process is an important step that occurs once the buyer and seller have agreed upon the terms of the home purchase.

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Purchase and sale agreement Earnest money deposit Title search Pre-approval 76

HomeLight

JANUARY 12, 2022

You’ve accepted an offer on your house and both you and the buyer have signed the purchase contract. Next steps include the home inspection, appraisal, and final paperwork. According to the loan software firm ICE Mortgage Technology, it took 50 days on average to close on a purchase loan for a house, as of Q3 2021.

Closing 113

Closing Purchase and sale agreement Pre-approval Inspection 113

Realty Biz

MARCH 28, 2022

A contingent sale just means that some details still need to be worked out. The home inspection and the appraisal are the most common. National Association of REALTORS ® (NAR) statistics from 2021 say that only about 5% of sales fall through. However, there are other uses for a kick out clause such as a financing contingency.

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As-is Purchase and sale agreement Debt-to-income ratio Sales 83

Realty Biz

SEPTEMBER 23, 2023

They provide services such as guiding buyers through the home buying process, offering expertise in the local market, and assisting with negotiation and closing. Buyer agents can provide valuable support in various situations, such as buying a new home or purchasing a foreclosure. What is a Buyer's Agent Agreement?

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Purchase and sale agreement Pre-approval Agents Pre-qualification 73

HomeLight

MARCH 31, 2022

leading to bidding wars in many of the major markets. 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.

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 88

Realty Biz

APRIL 17, 2023

It is a form of assurance that the buyer is serious about buying the property and will follow through with the purchase. The amount of earnest money typically varies from 1-5% of the purchase price, depending on the buyer's agreement with the seller. Let's examine more closely how a buyer's funds can be returned.

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Earnest money deposit Purchase and sale agreement Home sale contingency Title 67

Realty Biz

NOVEMBER 10, 2021

Listed homes for sale are classified in different ways to help you understand how far along in the sales process they are. If you see a home listed as “active,” this means it is for sale with the sellers considering bids from potential buyers. When the house is marked as “sold,” it is no longer on the market.

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Purchase and sale agreement Inspection Inspection contingency Finance 128

HomeLight

AUGUST 16, 2021

Between searching for, viewing, negotiating , inspecting, and possibly renegotiating on a home, the road to the closing table is rarely a short one. And if the house you’ve landed on is listed as a short sale, you could be in for a long ride. What exactly is a short sale? Source: (Freedomz / ShutterStock).

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Short sale Sales Purchase and sale agreement Banks 104

HomeLight

JUNE 19, 2023

We talked with real estate professionals who specialize in the rent-to-own process in order to get an insider’s look at how to navigate the rent-to-own market from a buyer’s perspective. Basically, a rent-to-own real estate purchase means that you can live in the house as a renter with the intent to close on the home at a date in the future.

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Purchase and sale agreement Debt-to-income ratio Due diligence Inspection 104

Point2Homes

DECEMBER 8, 2020

But, what does contingent mean and how does it affect your purchase? However, before the sale can go to closing, certain contingencies must be met. These clauses are defined in the sales contract and often have to do with home inspections, mortgage approvals and appraisals. How is Contingent Different from Pending?

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

Realty Biz

MAY 1, 2022

If you are looking to buy a home in a hot seller’s market, there is a strong likelihood you’ll be up against buyers who will be making a cash offer. Research The Current Real Estate Market. When trying to beat a cash offer, it’s essential to understand the current local real estate market? Let’s dive in!

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Purchase and sale agreement Rent back Pre-approval Inspection 145

Realtor.com

DECEMBER 6, 2021

And before you even get a chance to snap listing photos and put it on the market, a buyer comes along. “And find out if and how they would want to handle the sale to a buyer found by the seller,” says Sylvia Jonathan , an agent at Coldwell Banker Platinum Properties in Irvine, CA. The terms of the sale and contingencies.

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Purchase and sale agreement Agents Title Closing 116

HomeLight

DECEMBER 31, 2020

You can put so much effort into prepping your house for sale that you forget what happens after you receive an offer. Putting your John Hancock on a home sale contract might feel like the completion of a major financial deal, but it’s actually just the beginning of the home sale process. What does “sale pending” mean?

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Closing Backup offer Sales Inspection 104

Realty Biz

JANUARY 29, 2021

2021 has continued to be frustrating for first time home buyer in Massachusetts as well as many of the metro markets throughout the country. While some areas are shoeing signs of the market weakening popular metro areas are continuing along the same vein as 2020. What Is Driving The Market in 2021? Understand You Are Competing.

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Marketing Purchase and sale agreement Inspection Pre-approval 118

HomeLight

JULY 30, 2021

We’ve researched the ins and outs of rent-to-own homes , as well as talking to experienced real estate agents about how a renter and landlord can enter into such an agreement, the pros and cons of doing so, and just what it means for you as a buyer if you decide to rent-to-own. Lease-option agreements. Lease-purchase agreements.

Purchase and sale agreement 98

Purchase and sale agreement Debt-to-income ratio Pre-qualification Inspection 98

HomeLight

NOVEMBER 9, 2021

The recent housing market has been hot and competitive due to an extreme lack of inventory. For a seller in a hurry, the shortage of homes means you can anticipate fewer days on market (DOM). The Simple Sale process frees you of the hassle of staging your home and jumping through hoops for the buyer’s lender. Listing price.

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Purchase and sale agreement Home sale contingency Title search Inspection 91

Realty Biz

JANUARY 9, 2024

From preparing your home for sale to negotiating offers, these tips will ensure a successful sale. Sometimes it stops their sale dead in its tracks until the errors are corrected. Research the Local Market Before listing your home, it's crucial to research the local real estate market. Things have evened out.

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Purchase and sale agreement Earnest money deposit Title search Title 96

Redfin

MARCH 2, 2023

Regardless of your experience, navigating the housing market can be daunting, especially when it comes to understanding the complex jargon and legalities involved in purchasing a property. When a buyer applies for a mortgage to purchase a home, the lender requires an appraisal of the property to determine its fair market value.

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Purchase and sale agreement Earnest money deposit Finance Inspection 57

Realty Biz

FEBRUARY 1, 2024

A credit in home sales can be given for several reasons. Essentially, seller credits are a form of financial incentive the seller provides to the buyer to help cover certain costs associated with purchasing a property. During the inspection, it was found that the heating system needed to be replaced.

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Purchase and sale agreement Closing costs VA loan FHA loan 80

Point2Homes

JANUARY 31, 2023

Making an attractive offer is crucial, especially in a hot market. Without being pre-approved, you’ll need to delay your offer while you secure financing. Finally, research the local market when you’ve found the home you want to buy. The most common way to make an offer is in writing using a standard purchase agreement.

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Earnest money deposit Purchase and sale agreement Pre-approval Inspection 98

McKissock

JULY 26, 2022

Purchasing property, especially a home, can be a very emotional experience. In order to reach an acceptable agreement with the most favorable terms, make sure your buyers are aware of the market and the most important factors when constructing an offer. Number of days on market. Timeliness and types of inspections.

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Purchase and sale agreement Title search Inspection Construction 81

RIS Media

MAY 19, 2021

” What do they mean and how will they affect your home sale? Despite this, there can still be room to negotiate the conditions of the sale. Not all sales will have contingencies with them, but most will. Common real estate contingencies include the following: Inspection Contingencies. Contingent Meaning.

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Purchase and sale agreement Earnest money deposit Inspection contingency Home sale contingency 98