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. What is a contingency clause?

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HomeLight

MARCH 20, 2023

After all, few people can afford to hold two mortgages. At the same time, it usually does not make sense for buyers to sell their home without having a new one lined up to move into. So what options does that leave for the homebuyer who must also be a home seller ? Find a Buyer's Agent What is a home sale contingency?

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HomeLight

JANUARY 4, 2022

Below are some of the types of non-institutional buyers who may have the cash on hand to transact without a financing contingency: The creative buyer. HomeLight’s 2020 agent survey found that buyers who would traditionally use a mortgage are finding ways to pay cash however they can. You’re overwhelmed with prepwork.

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HomeLight

APRIL 21, 2022

You found your new home and want to avoid carrying two mortgages. 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. Your home has recently gone on and off the market.

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HomeLight

SEPTEMBER 11, 2020

Then, make sure you are only searching for, and writing offers for, homes you can truly afford. Get preapproved for a mortgage. The importance of getting preapproved for a mortgage can’t be overstated if you want your offer to be taken seriously. No sales contingency? Decide where you can be flexible.

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Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 80

HomeLight

JANUARY 28, 2022

Appraisal contingency : The buyer can back out if the home appraisal comes in lower than the offer amount (an appraisal lower than offer can also cause financing to fall through). Home sale contingency : The buyer’s existing home has to sell before they will purchase the home.

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