HomeLight

MARCH 20, 2023

After all, few people can afford to hold two mortgages. Other common contingency clauses include: Inspection Contingency: If the buyer finds fault with the home inspection report, they can ask for the seller to make repairs, or they can cancel the contract within the contingency period.

Home sale contingency 97

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 97

Redfin

JULY 30, 2020

Almost half (45%) of people who bought a home in the past year made an offer on a property that they hadn’t seen in person, the highest share since at least 2015, according to a Redfin-commissioned survey in May and June of more than 1,400 people across 29 major markets.

Inspection contingency 74

Inspection contingency Purchase and sale agreement Pre-approval Inspection 74

The Close

FEBRUARY 6, 2024

That may sound like a lot to add, but when your buyers roll it into their mortgage, it should not change their monthly payment so much that it prevents them from qualifying for their loan. That’s not including the luxury market—the median sold price in my area in Florida is around $300,000. In fact, I suggest quite the opposite.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

MARCH 2, 2023

Henderson says that while connecting with a reputable agent who knows the San Diego market is important, one thing potential buyers should be sure to do is to align themselves with a great lender. There are affordable housing programs, silent second mortgages that help cover the down payment, as well as others,” he says.

Closing 98

Closing Earnest money deposit Sales Inspection 98

HomeLight

FEBRUARY 28, 2022

In a perfect world, you can put your current house on the market, sell quickly to get your equity out of your home to use for a down payment, and find your next dream home just as quickly. In this seller-centric market, buyers will often let sellers stay and will agree to a delay of 30-60 days. Decide on contingencies.

Equity 121

Equity Debt-to-income ratio Closing Loans 121

HomeLight

AUGUST 31, 2021

Cash offers are more popular in some markets than others; for buyers trying to find a house in an area where cash offers are prevalent, competing against those offers can be a discouraging part of the homebuying process. The most obvious contingency with an offer that requires financing is, of course, the financing itself.

Due diligence 82

Due diligence Inspection Pre-approval Pre-qualification 82

HomeLight

SEPTEMBER 11, 2020

Even a pandemic failed to slow down the 2020 real estate market. To help you set yourself up for success, read our primer with expert-backed tips for deciding on and presenting the strongest possible offer. Does that mean a cash offer in your market? Get preapproved for a mortgage. No sales contingency?

Earnest money deposit 90

Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 90