HomeLight

JULY 31, 2020

For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process. Problems with the title. Loan approval.

Closing 114

Closing Purchase and sale agreement Title search Earnest money deposit 114

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 83

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 83

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).

Closing 104

Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

OCTOBER 29, 2020

Contingencies can range from the relatively minor or otherwise workable — like requesting a $3,000 allowance to fix a plumbing issue that was revealed during inspection — to more serious stipulations, such as a buyer needing to sell their existing house before closing on the next. Negotiable contingencies. Home inspections.

Purchase and sale agreement 80

Purchase and sale agreement Pre-approval Earnest money deposit Inspection 80

HomeLight

JULY 31, 2021

The CMA does a deep dive into how your property stacks up against the sale prices of nearby homes that are similar in size, style, age, and features. In a mortgage-backed transaction, a lender will require an appraisal as a condition of financing. Inspection period. Step 6: Pass the inspection. Order a home appraisal.

Earnest money deposit 98

Earnest money deposit Inspection Proof of funds Inspection contingency 98