Point2Homes

DECEMBER 8, 2020

In this case, even though contingencies are still pending, the seller has decided that they will forego any more showings. Short Sale. Short sales occur when the seller will accept a lower amount than is remaining on their home loan. Notably, short sales don’t have the best completion percentage.

Purchase and sale agreement 145

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

HomeLight

JULY 31, 2020

These are the top home closing delays that could affect if and when you close on your new home, and how to overcome them. Loan approval. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Image Source: (Shutterstock.com/Chokniti Khongchum).

Closing 107

Closing Purchase and sale agreement Title search Earnest money deposit 107

HomeLight

JANUARY 13, 2022

Inspection contingencies. Inspection contingencies mean that a buyer can get a home inspected before the deal goes through, and can back out of the purchase with earnest money intact, depending on what the inspector finds. Inspection contingencies can be waived. Appraisal contingencies.

Backup offer 75

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 75

HomeLight

JULY 6, 2023

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 89

MLS Backup offer Inspection contingency Purchase and sale agreement 89

HomeLight

JULY 29, 2022

When you’re buying a house, the list of what can go wrong at closing includes everything from issues with the mortgage loan and buyer’s credit, insurance snags, appraisal problems, title claims, and events beyond everyone’s control (such as natural disasters, or buyer or seller illness or death). Get it ASAP and look it over thoroughly.

Closing 103

Closing Purchase and sale agreement Title Home sale contingency 103

HomeLight

APRIL 21, 2022

Cash vs. financing : Cash offers usually result in a faster sale than mortgage-backed offers; if speed is an important aspect of the sale, this could make a significant difference. If specific criteria aren’t met, the deal can fall through; i.e., the sale is contingent upon various factors outlined in the offer.

Inspection contingency 104

Inspection contingency Home sale contingency Pre-approval Agents 104