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Lake Havasu Buyer Tip: The Home Sale Contingency Offer
Unless you're a first-time home buyer, are looking for a second home or are a real estate investor, most likely, you'll need to sell your current home before you can move on to the next Lake Havasu home. If possible, sell your current home before you even start looking. However, this isn't always feasible. That's where the home sale contingency offer comes in to play.

What is a Contingency OfferA contingency offer is when the buyer makes an offer on a home but with conditions (aka "contingencies"). Common contingencies include the completion of a home inspection. After that, they may request certain repairs or replacements be done before completion of the sale. Next, a home appraisal contingency allows the buyers to renegotiate the price if the appraisal comes back less than the listing price. Another possibility is the financing contingency. Even with an approval letter in hand, things happen during the loan process. The underwriter may find problems with the application and deny the loan.
A financing contingency gives buyers a way to back out of the sale agreement. Then, a clear title contingency allows buyers to back out of the sale if any unresolvable issues arise from the title search. Finally, there's ... more

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