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. Source: (Masjid MABA / Unsplash). What is a contingency clause?

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 86

Windemere Selling

SEPTEMBER 1, 2021

Selling your current home first allows you to make offers on a new home with cash in your pocket, increases your buying power , and avoids having to juggle two mortgages simultaneously. Sellers may also negotiate a rent-back agreement with the buyers, allowing them to rent the house from the new owners before they move in.

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Purchase and sale agreement Rent back Loans Agents 52

Redfin

MAY 7, 2021

In a seller’s market, you may be tempted to put an offer on a home that’s contingent on the sale of your current home. Another option to consider is gap financing such as a Home Equity Line of Credit (HELOC) or a Bridge Loan. You can also consider requesting a rent-back agreement from potential homebuyers.

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Purchase and sale agreement Marketing Equity Loans 79

Redfin

FEBRUARY 2, 2021

A seller’s market is when there are more homebuyers in a particular area looking to purchase a home than actual houses listed for sale. According to Redfin’s Chief Economist Daryl Fairweather, “mortgage rates are as low as they may ever get, so if you are able to buy a home now, you can take advantage of low rates before they rise.”

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Pre-approval Purchase and sale agreement Marketing Inspection contingency 65

HomeLight

MARCH 20, 2023

That means a large majority of homebuyers must consider the sale of their current home prior to buying a new one. After all, few people can afford to hold two mortgages. Most often, this type of scenario calls for a home sale contingency. 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 95

HomeLight

OCTOBER 1, 2020

After a low appraisal on your dream home , you may assume that this is the end of the road because it may mean the termination of your mortgage loan if you can’t work out a deal. Short sales in the neighborhood . In some cases, short sales may be to blame for a low appraisal. Can you offer a rent-back agreement to the seller?

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Purchase and sale agreement Short sale Rent back Sales 90

First Team Real Estate

MAY 21, 2021

According to recent data from NAR , home sales are receiving an average of 4 offers, and our FirstTeam agents regularly see bidding wars that capture upwards of 20 offers! Offer to Rent Back to the Sellers. When purchasing your home with a mortgage, your first payment isn’t actually due until a month after you close escrow.

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Purchase and sale agreement Rent back Marketing Agents 98