Keeping Current Matters
JUNE 21, 2021
An agent can help you consider what levers you can pull that might be enticing to a seller, like: Offering flexible rent-back options to give the seller more time to move out. Your ability to do a quick close or make an offer that’s not contingent on the sale of your current home. Bottom Line.
Realtor.com
OCTOBER 29, 2020
These are the most common contingencies that are part of your new home closing process: Home inspection contingency: This gives buyers the right to have the home professionally inspected. If something is wrong, you can request that it be fixed—or you can back out of the sale.
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HomeLight
JUNE 30, 2021
There are lots of other kinds of contingencies — inspection contingencies, appraisal contingencies — but the sales contingency can be especially tricky. In a hot market, sellers might be seeing offers without any contingencies, which makes a sales contingency a tough sell. Ask for a rent-back clause.
Realty Biz
JULY 7, 2021
Require a minimal home inspection. You should include a home inspection contingency, but you can make it minimal. You want to be able to get out of the deal if the inspection reveals major damage like dry rot or structural damage without nickel-and-diming the seller until they back out of the deal.
HomeLight
MARCH 31, 2022
The contingency allows you to walk away without penalty if you can’t secure financing to buy the house. The financing approval and the inspection contingency are first-level contingencies,” Ballenger explained. Rent back to the seller. You generally see those in a normal market.”
Redfin
JULY 30, 2020
Later that night, Yaaran got a call from the listing agent, who asked if they could come back to the negotiating table because there was a strong competing offer set to expire at midnight. Fortunately, the inspection contingency enabled her to back out of the purchase.
HomeLight
APRIL 21, 2022
If specific criteria aren’t met, the deal can fall through; i.e., the sale is contingent upon various factors outlined in the offer. Therefore, the fewer contingencies tied to an offer, the more likely the deal will reach closing. Common contingencies include an inspection contingency and an appraisal contingency.
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