The introduction of buyer’s agency was a significant turning point in real estate sales. Potential home buyers now could have a buying agent in their corner. What is a Buyer’s Agent? A buyer’s agent represents a buyer’s interests when buying a home. A buyer is considered a “client...
It can take weeks for a buyer’s needs — called “contingencies” — to be met. After these contingencies are settled, the sale is pending until it’s officially completed.
You will likely need a certified check or cashier’s check for this transaction, or you may be able to wire funds directly from your bank. Personal checks are often not accepted. Unless there are contingencies in your purchase agreement allowing the previous owner to stay for a period of ...
home on the market,” says Abrusci. Pulling ahome equity line of creditis a tough situation in a market where there’s no need for a seller to entertain home sale contingencies, but it could work in a world where interest rates are rising and offers are no longer turning up in droves....
A number of things can hold up your closing, including a low appraisal, unmet contingencies, title problems and a foul-up with the mortgage funds. Low appraisal An appraisalis a professional assessment of the worth of the home you’re interested in buying, ordered by the mortgage lender. The...
Signatures from all parties.Buyers, sellers, and their real estate agents, as applicable, all sign the purchase agreement. A list of contingencies.This is a list of conditions that must be met before the sale can close. The next section will cover contingencies in greater detail. ...
Contingencies can often add more complexity to a sale; however, they definitely have their benefits as their purpose is to protect all of the parties involved in a real estate contract. In this post, we’ll explain what contingencies are, how they work, why they exist, and how they can ...
you will need a home sale contingency in your contract. Contingencies are not always necessary though. For some people it’s a need, while for others it’s a want. You might need some guidance on what it looks like for you. The Blanchard Team is here to help. Sit back, watch the vi...
Although a real estate purchase agreement is legally binding, it’s valid within the terms put in place. If the purchase agreement hascontingenciesthat ultimately aren’t met, that may leave grounds for the buyer to back out or renegotiate the terms. For example, if a mortgage contingency stat...
Every home sale is dependent upon certain contingencies. They can make or break a real estate sale, but what exactly is a contingent offer? "A contingency in a deal means there's something the buyer has to do for the process to go forward, whether that'sgetting approved for a loanor se...