Housing Wire

JULY 26, 2024

Agree on contingencies. Contingencies in the agreement protect both parties if problems arise during the appraisal, inspection, or financing stages of the transaction. Finally, get a professional appraisal, which will be required by a lender if your family member needs a mortgage. Are they buying with cash?

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Housing Wire

SEPTEMBER 19, 2024

“While well-priced homes will still attract a lot of buyers, sellers need to be prepared to negotiate not only on price, but also on concessions, including home inspection and appraisal contingencies, and closing cost assistance,” Bright MLS chief economist Lisa Sturtevant said in a statement.

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Housing Wire

SEPTEMBER 9, 2020

and I counseled my client to bid accordingly, waive his mortgage contingency, then we bid $1.45 Another critical element, according to agents, is not to make the deals contingent upon things like inspections and not to “nickel and dime” the seller. To win, waive those contingencies goodbye. million and we got it.”

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Housing Wire

SEPTEMBER 30, 2021

Local real estate agents, loan officers and appraisers share what characteristics are currently defining their housing markets. Buyers “are waiving inspections, an appraisal contingency, and the latest trend is to pay closing costs usually done by the seller.” Kansas City, Missouri. One kid will give $4 instead of $1.

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Housing Wire

JULY 29, 2022

The dip in competition often allows homebuyers to make less risky offers that avoid waiving protections like home inspections and appraisal contingencies. At the same time, homebuyers are facing less competition as home inventory starts to bump up slightly. year-over-year decline. drop from a year earlier.

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HomeLight

SEPTEMBER 6, 2024

Part of the complexity of real estate transactions is that they can involve contingencies — conditions that parties add to an agreement that have to be met before the deal can be finalized. In particular, you may be wondering: what is an appraisal contingency, and why is it important? Get Estimate First, what is an appraisal?

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Keeping Current Matters

MARCH 11, 2022

Terms like appraisal (what lenders rely on to validate a home’s value) and the inspection contingency (which gives buyers essential information on a home’s condition) directly impact the transaction. Knowing key housing terms and how they relate to today’s market is important.

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Housing Wire

OCTOBER 1, 2022

One way to understand the competitiveness of the market is to look at buyers who are waiving contingencies. There had been nearly one-third of buyers who waived an inspection or appraisal contingency, but the last month it fell to just over 20% for both. Last month, we saw a shift in who is purchasing homes.

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Housing Wire

APRIL 25, 2024

And it was a solid cash offer, no contingency and was going to close within a week. Agents say they are also seeing a lot of appraisal gap clauses , inspection waivers and free leasebacks popping up in offers as buyers look to improve their chance of winning a house in the current market. “We couldn’t even see it.

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RIS Media

DECEMBER 28, 2023

With buyers making all-cash offers well over the asking price as well as waiving appraisal contingencies and inspections, it was unlike anything anyone in the industry had seen before.

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BAM Media

DECEMBER 19, 2024

Sellers remain confident in their ability to move properties quickly, with 72% expecting to close within 4 months or less.

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Realtor.com

JULY 13, 2021

But some buyers in especially tight markets are taking even riskier measures to beat out competitors: They’re removing contingencies. Contingencies, in the world of real estate, are essentially conditions that must be met to finalize the sale of a home. Home inspection. Mold remediation.

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Lighter Side of Real Estate

MARCH 5, 2025

With more options available, buyers feel less urgency and are more likely to walk away during the inspection period or contingency phase, especially if a more appealing home hits the market. Generates stronger offers, reducing the likelihood of low appraisals. Contingencies. For example: Inspection concerns?

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HomeLight

JUNE 9, 2023

But as your eyes scan the details of the listing, you come across a term that makes you pause: “Contingent.” ” So, what does contingent mean in real estate? A property listed as “contingent” in real estate means the seller has accepted an offer, but the deal isn’t fully closed yet.

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Lighter Side of Real Estate

AUGUST 16, 2022

It wasn’t just about price; they also had to come in with as “clean” an offer as possible, which often meant waiving fairly standard contingencies. In case the term isn’t something you use in day to day life, a contingency is a clause in the contract that is in place to protect the buyer. Waiving a home inspection isn’t ideal.

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Redfin

APRIL 4, 2025

Whether you’re selling a home in Denver, CO or a condo in Phoenix, AZ , a pre-listing appraisal can provide an accurate estimate of your homes value before it hits the market. What is a pre-listing appraisal? A pre-listing appraisal is a professional estimate of your homes value, completed before you put it on the market.

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Realtor.com

OCTOBER 29, 2020

Get all contingencies squared away. Most purchase agreements have contingencies —things that buyers must do before the real estate transaction is official, explains Jimmy Branham , a Coral Springs, FL, real estate agent at the Keyes Company. It’s rarely advisable to waive an inspection contingency.

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Realty Biz

FEBRUARY 20, 2021

Contingencies in Real Estate Explained. Do you know what a real estate contingency is and how it works? Real Estate contingencies are when some defined action or outcome must occur before a contract becomes legal and binding. Home Buying Contingencies Explained. What Are The Most Common Real Estate Contingencies.

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HomeLight

MARCH 2, 2022

Up next: The home inspection. Once the buyer orders a home inspection, your home is in the hot seat. Even if you’ve gone through the house with a fine-tooth comb and listed anything and everything on the seller’s disclosure , the home inspection might reveal issues that you weren’t aware of or are worse than you thought.

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Point2Homes

OCTOBER 20, 2021

Home appraisals are a vital part of most real estate transactions — and it doesn’t matter if you’re planning on selling your home or purchasing one first. Either way, you’re going to encounter a home appraisal contingency at some point. Note that a home appraisal and home inspection are not the same things.

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HomeLight

JANUARY 31, 2025

Your to-do list when you sell your home is already sizable by the time you arrange for a home inspection. What fixes are mandatory after a home inspection? Although 20% of buyers waived inspection contingency , you may still be obligated to resolve certain issues, depending on your states and the buyers lenders policies.

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RIS Media

APRIL 8, 2022

Once you find your dream home and it happens to be marked as contingent, you can still place an offer. Here’s all you should know about contingent sales as a potential home buyer. Contingent meaning. What about houses listed as “contingent?” Can a home listed as contingent fall through? Low appraisal.

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Realty Biz

OCTOBER 19, 2022

The home inspection is part of the process that can lead to problems, but what does a home inspector do? The home inspection is the buyer's opportunity to get a professional opinion on the home's condition. If you are unsure about what does a home inspection cover, we take a look so that you are better informed. Others do not.

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Point2Homes

DECEMBER 8, 2020

When searching for the ideal home, expect to encounter a few issues along the way, such as homes listed as contingent. But, what does contingent mean and how does it affect your purchase? A home listed as contingent means the seller has accepted an offer. How is Contingent Different from Pending? Contingent Statuses.

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HomeLight

JANUARY 31, 2024

Perhaps you’ve found a house you love, but it’s labeled with a “contingent” status. How long can a house be contingent? Contingent listings can be puzzling and sometimes frustrating — especially when you’re searching for your dream home. We’ll also share how you can make a strong offer with fewer contingencies.

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Realty Biz

NOVEMBER 10, 2021

Is Buying a Contingent Home Possible? It can take a long time to find your perfect home, but just when you think your search is over, you might discover that it is listed as a contingent house. So can you still offer on a contingent home, or have you missed the chance to buy your perfect property? Home Inspection Discoveries.

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HomeLight

DECEMBER 30, 2023

What buyer contingencies might put a listing back on the market? What home contingency missteps should you avoid when making an offer? While under contract, there are typically contingencies in the buyer’s offer that need to be resolved before the sale moves forward. If contingencies are not met, the deal might fall through.

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HomeLight

NOVEMBER 29, 2021

But first, you have to sell your old home, potentially secure financing, and secure a home appraisal (and likely an inspection) on your new house. Most purchase agreements have some terms in place that must be met for the deal to go through, such as having a home inspection completed. Do contingencies benefit homebuyers?

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Realty Biz

SEPTEMBER 14, 2021

In some places, active under contract indicates that a contract has been signed but is contingent on certain conditions being met before the sale is finalized. In other locations, the sale may be referred to as being contingent in the multiple listing service (MLS). The seller has agreed to accept a contingent offer from the purchaser.

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Realty Biz

DECEMBER 15, 2022

A Low Appraisal Can Torpedo the Sale. An appraisal is part of securing financing for the property. If it comes in low: The buyer can get a second appraisal. Even with a solid appraisal, financing is not guaranteed. Contingencies Must Be Met. The most common types of contingencies include: Sale of a buyer’s home.

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Redfin

MARCH 11, 2025

However, if you back out of the deal for reasons not covered by contingencies (such as inspection or financing), you may forfeit the earnest money to the seller. These reasons are typically spelled out as contingencies in the contract, giving the buyer a way out without losing their deposit.

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Realty Biz

OCTOBER 20, 2023

However, amidst the excitement of finding the perfect property, there's a crucial step that many homebuyers might overlook or not fully understand - the home appraisal. In this article, we will take a closer look at why homebuyers might need a home appraisal and how this process can play a pivotal role in the real estate transaction.

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HomeLight

FEBRUARY 6, 2024

You’ve been searching for a home to buy, and you come across a property you love only to see it’s labeled as “contingent.” ” or even, “Can you make an offer on a contingent house?” You can then make a strong offer on your next home with no home sale contingency.

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HomeLight

JULY 25, 2022

That’s why buyers and lenders often contract with licensed, local appraisers and inspectors to perform an in-depth examination of the home and create a snapshot of its current market value and its condition. This won’t replace a home appraisal, but it can be a helpful starting point. Home appraiser versus home inspector.

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HomeLight

SEPTEMBER 27, 2021

There are several steps ahead that could impact your ability to close, including the home appraisal. A home appraisal is a professional opinion of your property’s value from a licensed appraiser. Otherwise, the buyer can exit the deal with their earnest money intact through their appraisal contingency.

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Redfin

MARCH 18, 2025

You back out due to a contingency you get your earnest money back Most purchase agreements include contingencies that allow you to cancel the deal without penalty. Inspection contingency: If the home inspection reveals serious issues and you decide to walk away (within the agreed timeframe), you can get your money back.

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HomeLight

NOVEMBER 8, 2024

We’ll also share tips on how you can make a strong, non-contingent offer so you’re not stuck in the pending zone. Find a Top Agent With Experience in Contingency Offers If you need to make an offer on a home with contingencies, you’ll want a top agent by your side who can avoid pitfalls and secure the home you want.

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