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How Can a Buyer Get Their Earnest Money Back?

Realty Biz

As with other contingencies, the buyer must follow the timeline protocol for a response. Home Sale Contingency Fails A home sale contingency is a clause in a sales contract that allows a buyer to back out of the purchase of a home if they cannot sell their current home by a certain date.

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What Does Contingent Mean in Real Estate Sales

Realty Biz

Understanding how a home inspection works is essential for both buyers and sellers, given the importance of this real estate transaction phase. Home Sale Contingency. If the buyer still needs to sell their home before they can close on the new property, a home sale contingency can be put in place.

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Making a Contingent Offer: Common Real Estate Contingencies

Windemere Buying

It allows you to walk away from the deal if the property’s appraised value is lower than the sales price, and typically guarantees that your earnest money will be returned. Home Sale Contingency. If you’re buying a new home while selling your current one , you may want to include a home sale contingency in your offer.

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Common Real Estate Contingencies

Windemere Selling

An appraiser’s value of a property is based on several factors using comparative market analyses, whereas market value is what buyers are willing to pay for a home. Home Sale Contingency If a contract includes a home sale contingency, it means that the buyer is tying their purchase of a home to the sale of their existing one.

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What Are Common Terms and Conditions in a House Offer

Realty Biz

So it might be agreed that the seller takes care of escrow or title search fees, with a buyer dealing with the rest. Home Sale Contingency. If you need money from selling your own home to buy a new property, a home sale contingency can be added to the offer.

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Can You Put an Offer on a House That’s Contingent?

RIS Media

If the house doesn’t get sold in the stipulated time, the sale can fail to materialize. The clause is referred to as a home sale contingency. . The title search reveals issues. Whenever you’re purchasing real estate, a title search is one of the standard boxes that must be checked.

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Revive those dead real estate deals

Real Trends

The buyer can’t sell their home : Some deals have a home sale contingency meaning the buyer will only take the house if they can sell their existing home. Issues with a seller’s title : There could be issues with the seller’s title due to liens against the property causing the buyer to back out of the deal.