How and When Do I Remove My Offer to Purchase Contingencies?

Keep your clients informed about each step of the contract.  Buyers have to be reminded along the way.  Good post.

There have been times where I didn't think I could move my offer or remove it as well

In Texas we like to say "there's a form for that", no matter what it may be. If it's not in writing, it's not happening.

Jeff - you are fortunate in CA to have a special form to romove contingencies, otherwise it can be confusing. 

Jeff Dowler "Contingencies, and their removal dates, are critical to pay attention to. Obviously you do not want to remove a particular contingency until you are satisfied it’s been met, but deadlines are important, and you do not want to jeopardize your purchase and/or your deposit by not adhering to the contract and removing relevant contingencies in a timely manner."

Right on target - and - re-blog!

Great post Jeff and although some rules may vary from state to state, the information is to the point and easy to understand.  When working with buyers and sellers it is sometimes difficult to get them to understand that the highest offer isn't always the best offer.  Oftentimes it does come down to the terms and contingencies.

Good post with lots of good info. It is easier for us here in North Carolina. We have a Due Diligence period. The DD period can be as long or short as the buyer wants, usually it ends about a week before closing. The buyer can put up from $0 to any amount for DD. This is in addition ernest money. The DD money is the sellers to keep period. The buyer can walk away at anytime without a reason in the DD period, and get their ernest money back. This covers almost any contingency, except selling a home. Sometime negotiating these terms can sometimes be tricky, but once done things move much smoother. 

Great post and one of the most misunderstood parts of the contract for Buyers, Selllers and often agents. Every state is different but I think CA finally got it right with Active vs Passive removal. Your always a great contributor.

A very important issue for home buyers to understand. It should be comforting to them but it is stressful when the lenders are late. As we know real estate practice is local too. My daughter bought in San Francisco in 2014 and ALL contingencies had to be automatically removed upon acceptance. I had a hard time coming to terms with this. At least the Realtors provided home history and inspections to all potential buyers.

Excellent information on this topic. Interesting as always to see how various states differ in these areas.

Jeff Dowler - interesting. In MA, I do not think we have any such CR forms.

Great post!  An explanation of how contingencies work should be part of every Agent's  buyer consultations.  Buyers are bright eyed looking at their new home but need to know there are contractual dates all parties must adhere to.  Many of the critical dates belong to the buyer and they need to understand early in the process how they work and the potential impact to the if they  miss date.

Hi Jeff Dowler, great and detailed information on how contingencies work and what it means to buyers and sellers. This is probably one area most buyers and sellers don't really understand.