Making a contingent offer to buy a home protects your interests, but including too many stipulations makes it harder to win a bidding war. By Hal M. Bundrick, CFP® and Barbara Marquand Updated Jul 13, 2023 Edited by Alice Holbrook Some or all of the mortgage lenders feature...
Making a Contingent Offer Once you’ve moved past the price portion of the offer, consider if other needs and conditions will be included. If you already own a home and need to sell it to pay for the new one, an offer contingent on the sale of your house is necessary. This offer con...
Sale of current residence. If your purchase of this house is contingent on the sale of another, this should be carefully stated. Response time limit. Your contract should require the seller to accept the offer in writing within a certain time -- usually no more than 48 hours -- or the...
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Huff doesn’t recommend is making an offer contingent on the sale of your home, especially if it’s out of state. More: Heart Set on a New Build? Here’s Where Luxury Homes Are the Youngest “Builders won’t accept that because it’s out of their control,” Mr. Huf...
Non-Contingent Offers Are The Best The buyer must be able to get funding for their offer. The buyer may includecontingenciesin the offer you are not eager to accept. Your home may not even be worth the money being offered, which means theappraisalcould be low, causing the lender not to ...
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Conditions of sale—especially the sale being contingent on the seller finding adequate housing—can be a major turnoff for potential homebuyers, according toMartha Gaffney, a licensed real estate broker and strategic real estate advisor at Real Estate Bees. "Buyers may not want to risk the time...
A home sale contingency is one type of clause frequently included in a real estate sales contract or an offer to purchase real estate. With a home sale contingency in place, the transaction is contingent on the sale of the buyer’s home. If the buyer’s house sells by the specified dat...
No matter how badly you want the home, remember to keep your offer contingent upon a proper inspection and your offer price within range of the home’s value.