HomeLight

SEPTEMBER 30, 2020

If a homeowner falls behind on their mortgage payments, a short sale is one potential way of correcting course. That being said, the home purchase process is a lot more complicated and drawn out with a short sale because it all hinges on the oversight and approval of a third party: the mortgage lender. Short sales 101.

Short sale 97

Short sale Closing costs Closing Sales 97

Point2Homes

DECEMBER 8, 2020

In this case, even though contingencies are still pending, the seller has decided that they will forego any more showings. Short Sale. Short sales occur when the seller will accept a lower amount than is remaining on their home loan. Notably, short sales don’t have the best completion percentage.

Purchase and sale agreement 145

Purchase and sale agreement Backup offer Home sale contingency Short sale 145

HomeLight

JULY 31, 2020

If all else fails and the repairs are too significant, it’s important to have an inspection contingency in the contract that allows the buyer to cancel the deal after evaluating the inspection report without losing their earnest money deposit. Short sale. Problems with the title. How it can delay closing.

Closing 109

Closing Purchase and sale agreement Title search Earnest money deposit 109

HomeLight

SEPTEMBER 1, 2020

You can buy a short sale, or you can buy a bank-owned property — but the foreclosure is just what’s happening in the process.”. Make sure the offer includes any important contingencies, such as an inspection contingency. Step 9: Order an inspection. Source: Birgit Loit / Unsplash).

Banks 77

Banks Inspection contingency Inspection FHA loan 77

HomeLight

AUGUST 31, 2020

Get an inspection contingency so you can get out of the deal if there are serious issues that the bank missed. Remember that the REO house will be sold in as-is condition ; you won’t be able to request repairs. And you’ll want to do title research and get title insurance to protect yourself.

Banks 92

Banks Inspection Inspection contingency Title 92

HomeLight

FEBRUARY 26, 2021

By saying your sale is “as is,” you’re not preventing a buyer from requesting an inspection , just signaling that no matter what the inspection finds, you don’t want to negotiate on price.

As-is 94

As-is Sales Inspection Investor 94

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 76

Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 76