Tag Archive for: Contingencies

What Does Contingent Mean in Real Estate? A Detailed Guide

In real estate, "contingent" refers to a status that indicates a property is under contract with a buyer, but the final sale is dependent on certain conditions or 'contingencies' being met. These contingencies, often also referred to as conditions, are terms set out in the purchase agreement that must be fulfilled for the transaction to proceed to closing.Read More

Contingencies for Buyers in California

Contingencies are clauses written in real estate purchase agreements and contracts that give buyers a way to “back out” if they decide they no longer want to move forward with the purchase. Contingencies are very common in California real estate contracts.Read More

Are Home Inspections Required in California?

Home inspections are non-invasive inspections that are used to give buyers a greater understanding of the condition of the home they are looking to buy. Home inspections tell buyers the true state of the property they are considering buying and identify any potential issues with the property.Read More

TRID Again; Contingencies & Closing Periods For Contracts Now?

Realtors are asking how they should adjust closing periods and contingencies with TRID coming into effect on Saturday. Some lenders are telling Realtors they need 45 days to close b/c […]Read More

Why We Don’t Share Written Loan Approvals w/ Borrowers & Realtors

On Monday, we had a borrower and Realtor refuse to remove a loan contingency until they had a chance to review our written loan approval. The written approval from the […]Read More

Why 5 Day Loan Contingency & Then 15 Day Close?

A Realtor asked us yesterday why it takes us an additional 10 days to close if we can release loan and appraisal contingencies in 5 days. This is why: Within […]Read More

Why “Rush” All Appraisals? 5 Day Contingencies; Value

At JVM we order every purchase appraisal as a “rush” and absorb the rush-fee ourselves. There are two reasons for this: (1) 5 Day Appraisal Contingencies: We typically get appraisals […]Read More