Remove Home sale contingency Remove Inspection contingency Remove Lending
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Should I Accept a Contingent Offer on My House? What You Need to Know Before Saying Yes or No

Redfin

Accepting a contingent offer on your home can feel like a gamble – but it doesn’t have to. The short answer to whether you should accept a contingent offer on your house is that it depends. If the buyer wants to continue with the sale, they can request repairs or lower the purchase price.

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What Does Contingent Mean in Real Estate?

HomeLight

Most real estate contracts — or roughly 80% — contain contingencies , according to data from the National Association of Realtors (NAR). As of 2023, 79% of contracts included an inspection contingency while 82% contained an appraisal contingency. What are the most common contingencies?

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Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

Not all sales will have contingencies with them, but most will. Common real estate contingencies include the following: Inspection Contingencies. The most common contingency is the home inspection contingency. Appraisal Contingencies. Home Sale Contingencies.

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Real Estate Pending Vs. Contingent: MLS Lingo Explained for Sellers

HomeLight

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
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The Top 9 Contingencies to Consider in Your Offer When Buying a Home

Redfin

Though you can technically add any contingency you want to an offer, here are the 9 most common homebuying contingencies to consider. 1) Home inspection contingency. As the buyer you should always order a home inspection. 2) Appraisal contingency. 4) Home sale contingency.

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3 Top Reasons Why Sellers Sue Buyers for Backing Out of Home Sales

HomeLight

Appraisal contingency. Appraisal contingencies are also related to getting your mortgage. In order to get a home loan, your mortgage lender needs to make sure they don’t lend you more money to buy the property than it’s worth. Inspection contingency. Home sale contingency.

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How to Buy a House without a Real Estate Agent, Just Like a Professional

HomeLight

If you want to exclude certain contingencies to make your offer more competitive, you can waive them, but it is not always a good idea. Common contingencies include: Inspection contingency. If issues arise during the home inspection that weren’t disclosed, it could be grounds for canceling the sale without a penalty.