article thumbnail

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 home appraises for less than the purchase price, the lender won’t lend the money.

article thumbnail

How does the “buy before you sell” model differ from iBuyers and Power buyers?

Housing Wire

Jeremy Foster: The traditional home purchase process for homeowners is broken. A majority of homeowners must sell their current home before they can qualify for a mortgage on their next home due to federal lending requirements around debt-to-income and down payments.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What Does Contingent Mean in Real Estate?

HomeLight

average % of contracts with an inspection contingency: 80% Appraisal contingency It’s standard for lenders to require a home appraisal to ensure they aren’t lending more than the property’s fair market value. Learn More Should I accept an offer with a home sale contingency?

article thumbnail

Hard Money Lenders Iowa: Real Estate Loan Solutions

HomeLight

Whether flipping a historic home in Des Moines or buying an investment property in Cedar Rapids, understanding the ins and outs of hard money lending is important for making informed financial decisions. You can then make a strong offer on your next home with no home sale contingency.

article thumbnail

Hard Money Lenders Indianapolis: Secure Your Next Deal

HomeLight

In this article, we’ll explore the ins and outs of hard money lending in Indianapolis, from loan structures to costs, and introduce some top lenders in the area. We’ll also discuss alternatives for homeowners needing to bridge the gap between buying and selling a home. HomeLight always encourages you to consult your own advisor.

article thumbnail

Hard Money Lenders Philadelphia: Quick Real Estate Loans

HomeLight

In this article, we’ll explore the ins and outs of hard money lending in Philadelphia, from understanding the basics to evaluating costs and alternatives. Start Making Offers Without Waiting to Sell Your Home Through our Buy Before You Sell program, HomeLight can help you unlock a portion of your equity upfront to put toward your next home.

article thumbnail

Hard Money Lenders Sacramento: Quick Funding Options

HomeLight

This comprehensive guide will walk you through the basics of hard money lending in Sacramento, from how these loans function to their various uses and costs. You can then make a strong offer on your next home with no home sale contingency. Typically, they lend a percentage of this ARV to mitigate risks.