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Real estate contingency. ... selling their own home first or the home appraising for less than the sale price. If you back out of an offer because an agreed-upon contingency failed to be met, you ...
The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the seller to continue to market the property. The 72 hour clause is usually written into sales contracts by the seller, this allows a seller to keep the home on the market and accept backup offers ...
What does pending mean? When an offer on a home has been accepted and is now under contract, it’s listed as “pending.” In other words, Lingscheit shares, if a home is pending it has “an ...
Economists and other real estate professionals keep tabs on the Pending Home Sales Index, measured and reported by the National Association of Realtors, which measures the number of pending ...
The seller, often in concurrence with the real estate agent, may choose to accept an offer that is lower than the highest offer for various reasons, such as terms or contingencies in the purchase contract offered or perceived differences in financial qualification of the competing buyers.
In some cases, pending could include the due diligence period, where the property undergoes an inspection and a public record check is done to make sure there are no legal issues. In other markets ...
A seller, for example, would pay a total of $18,000 ($9,000 to agents on each side) on the sale of a $300,000 home. If a buyer isn't represented by an agent, the seller's agent typically would ...
Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest level since the National Association of Realtors began tracking ...