There are a few different kinds of pending sales in real estate. The more common types include: Pending - Taking Backups The seller accepted an offer on their home, but something has hit a snag in the final stages; perhaps there was an issue with a contingency on the offer. Now, the ...
Real Estate Contingency The majority of real estate agents also work on contingency. The agent has specific tasks and once completed, the agent is paid. Both the selling agent and the buying agent of each listed property earn contigency fees. In some cases, one agent handles both aspects of ...
See here for a comprehensive explanation ofwhat pending indicates in real estate.When homes have gone pending, contingency removal has occured. The sale is nearing its conclusion. How Frequently Do Contingent Offers Fail? Thetime it takes to close on a homevaries considerably across the country, ...
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...
This example also spotlights one of the major benefits of a contingency contract, which is the fact that it reserves certain entitlements while reducing some of the risks. When considering the contract for the truck, the potential buyer must make the purchase if conditions are met and the seller...
A real estate contingency is a provision that something must be overcome or approved to consummate a transaction. In other words, it’s a condition, such as “I will buy this house IF (fill in the blank)”. Silicon Valley real estate consumers are well aware that home buyers normally have...
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Your earnest money deposit is protected during the due diligence period as long as you include a contingency in your real estate offer.Wait beyond this period, however, and you risk your earnest money. However, home inspection and appraisal only represent the tip of the iceberg. There is much...
A contingency clause is a contract provision that requires a specific event or action to take place in order for the contract to be considered valid.
A contingency is a potential negative event that may occur in the future, such as a natural disaster, fraudulent activity, or a terrorist attack.