Contingencies work to the buyer’s advantage, so they might include multiple contingencies on their offer. On the other hand, in competitive markets, buyers might waive all contingencies to appeal to the seller and gain a competitive edge. What is a real estate contingency? A real estate ...
Unless you buy a tear-down, you should include ahome inspectioncontingency in your offer. This clause allows you to walk away from the deal if a home inspection reveals significant and/or expensive-to-repair flaws in the structure’s condition. These are handled differently based on where you ...
Having an As Is offer does not mean that you are prohibited from inspecting the home.With an As Is offer, you should still retain a property condition contingency, the right to inspect and research whatever you need. As Is simply means that the seller is notobligatedto...
This offer contingency can be a sore point for many sellers, especially in a seller’s market where other buyers may not have the same constraints. If your ability to purchase the house hinges on certain factors like selling your current house, include thecontingencyeven if you’re wor...
7 Real Estate Buying Contingencies Explained Understanding Contingencies and how they affect the Offer The Offer to Buy Your House is Contingent on the Sale of Their House Although these types of offers are more common than you would think, a contingency based on the sale off a house is rarely...
A Buyer’s Offer Can Include Quite a Few Different Contingencies: Most property sales go through several stages before reaching a conclusion. Some of themost common real estate contingenciesinclude the following: Home Inspection Contingency A home inspectionis a common contingency in most contracts. ...
If your purchase offer includes a home inspection contingency, you could negotiate repairs or walk away from the sale altogether. 11. Submit Your Mortgage Application When you go under contract, you’ll want to submit yourmortgage applicationas soon as possible. Shop around and compare mortgage of...
When a sale is contingent, it also may be labeled “under contract,” as the seller has accepted the buyer’s offer but the deal hasn't been finalized. These contingencies can include requests such as: An inspection contingency, which allows the buyer to back out if something problematic is...
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1. What is one example of a contingency in a real estate offer? Requiring a professional inspection Requiring the seller accept the offer price Requiring the agent not show the home after the offer is accepted Requiring a clean title 2. What is the difference between the listed sales ...