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Contingent vs. Pending: Real Estate Lingo Explained

RIS Media

Not all sales will have contingencies with them, but most will. Common real estate contingencies include the following: Inspection Contingencies. The most common contingency is the home inspection contingency. Title Contingencies. – Closed: The home has been sold.

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Closing Documents for Buyers: 15 Closing Documents to Bring, See, Sign

HomeLight

You need to prove your identity because you will be signing several documents (namely the title and loan documents), which will need to be notarized. In Indiana, if it’s under $10,000, the buyer can bring a certified check made out to the title company. Title documents. If you purchased title insurance, it would be in here, too.

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Real Estate Pending Vs. Contingent: MLS Lingo Explained for Sellers

HomeLight

So what are the contract stipulations that put a listing into that “Contingent” stage, and how common is it for a property to hang in closing limbo? Here are 5 common contingencies in real estate contracts: Inspection contingency A buyer and their lender understandably want a home inspection to make sure they’re not investing in a lemon.

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Your Guide to Buying a Home in the Sunshine State of Florida

HomeLight

Your buyer’s agent will be able to help you create a wishlist , set up viewing appointments for you, tell you more about what’s going on in the neighborhood, negotiate on your behalf, and connect you with other vendors such as a title company, insurance agent, and home inspector. Order a title search. Illegal deeds. Missing heirs.

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How Long Does it Take to Close on a House? 11 Steps From Your Offer to Keys in Hand

Redfin

This way you’ll be able to move onto the next step quickly or check off that requirement and be that much closer to closing on your new home. Shop for title insurance and other closing services. Lender’s title insurance protects your lender against problems with the title of your property. Average time: 7-14 days.

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When Is a House Down Payment Due and How Much Do I Need?

HomeLight

Larsen cautions that if you’re buying a new construction home, you will likely be expected to pay a much larger percentage of earnest money. Closings costs for buyers often clock in between 2% and 5% of the purchase price, and expenses beyond your down payment may include some (or all) of the following: Property inspections.