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What Does Removing the Loan Contingency Mean for Homebuyers?

HomeLight

If you’ve been shopping for a home, you’ve likely come across the term “loan contingency,” and you may be considering including this clause in your purchase offer. Or perhaps you’ve already made a loan-contingent offer, and you’re wondering about contingency removal. What is a loan contingency?

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How To Buy and Sell a Home at the Same Time—in Today’s Haywire, High-Interest Rate Housing Market

Realtor.com

Getty Images (3) Buying a house while simultaneously selling your current home is always a treacherous tight wire to traverse—but in today’s high-priced, high-interest-rate housing market, it’s both a blessing and a curse. How disruptive will it be to have the home I live in on the market?

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The Next Evolution of iBuyers: ‘Power Buyers’

RIS Media

Power Buyers solve this for sellers by helping them buy without a loan contingency before they sell. of market value during the first half of the year. Anecdotal reports from brokers across the country confirm that iBuyers are often making offers above prices expected on the open market. in 2020 to 5.1%

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Zavvie Releases Seller Preferences Report

RIS Media

Record-low inventory in markets across the U.S. Stefan Peterson, zavvie chief data officer and co-founder, explains the impact on the typical consumer: “A Denver buyer with a traditional mortgage and a loan contingency had to make offers on an average of seven homes before winning the day.” versus 7.2% in 2020. .

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iBuyers Rebound as Power Buyers Rapidly Expand

RIS Media

According to our latest zavvie Seller Preferences Report, iBuyers rebounded last year, increasing business fivefold year-over-year during an historic seller’s market. Despite a major iBuyer exiting the market (Zillow), Opendoor, Offerpad and RedfinNow significantly increased their purchasing activity.

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A California Conundrum: Selling One Home to Buy Another? It’s Simple With HomeLight Trade-In

HomeLight

And then there are the challenges of trying to make a sales-contingent offer on a new home in a bustling seller’s market. This removes the sales contingency and frees up cash for clients to find their perfect new home and quickly submit an ultra-competitive offer — no contingencies necessary. Source: ( Peter Abdelmesseh.

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Tips for Negotiating After the House Inspection

Realty Biz

In this strong sellers’ market, it can be tempting for the buyer to waive the home inspection. In a seller’s market, the buyer has probably submitted a top-dollar offer. Even a strong sellers’ market is not a good reason to waive a home inspection. Risks of Waiving a Home Inspection. But it is a huge risk for the buyer.