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John P. Sharp, Premium Real Estate Broker with Skyline Properties, Inc.

(425) 230-2525

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  • Home
  • Selling
    • Selling
    • Step 1: Preview Your Home
    • Step 2: Prepare Your Home
    • Step 3: List Your Home
    • Step 4: Recieve Offers
    • Step 5: Accept Best Offer
    • Step 6: Contingencies
    • Step 7: Review Title
    • Step 8: Appraisal
    • Step 9: Escrow
    • Step 10: Closing
  • Purchasing
    • Purchasing
    • Step 1: Get Preapproved
    • Step 2: Write Your Needs
    • Step 3: See Homes
    • Step 4: What to Look For
    • Step 5: Know Your Home
    • Step 6: Make Your Offer
    • Step 7: Appraisal
    • Step 8: Title
    • Step 9: Disclosures
    • Step 10: Closing Day
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    • Home
    • Selling
      • Selling
      • Step 1: Preview Your Home
      • Step 2: Prepare Your Home
      • Step 3: List Your Home
      • Step 4: Recieve Offers
      • Step 5: Accept Best Offer
      • Step 6: Contingencies
      • Step 7: Review Title
      • Step 8: Appraisal
      • Step 9: Escrow
      • Step 10: Closing
    • Purchasing
      • Purchasing
      • Step 1: Get Preapproved
      • Step 2: Write Your Needs
      • Step 3: See Homes
      • Step 4: What to Look For
      • Step 5: Know Your Home
      • Step 6: Make Your Offer
      • Step 7: Appraisal
      • Step 8: Title
      • Step 9: Disclosures
      • Step 10: Closing Day
    • Services
    • Contact Us
    • About
      • About
      • Privacy Policy
      • Terms of Use

(425) 230-2525

John P. Sharp, Premium Real Estate Broker with Skyline Properties, Inc.

Signed in as:

filler@godaddy.com

  • Home
  • Selling
    • Selling
    • Step 1: Preview Your Home
    • Step 2: Prepare Your Home
    • Step 3: List Your Home
    • Step 4: Recieve Offers
    • Step 5: Accept Best Offer
    • Step 6: Contingencies
    • Step 7: Review Title
    • Step 8: Appraisal
    • Step 9: Escrow
    • Step 10: Closing
  • Purchasing
    • Purchasing
    • Step 1: Get Preapproved
    • Step 2: Write Your Needs
    • Step 3: See Homes
    • Step 4: What to Look For
    • Step 5: Know Your Home
    • Step 6: Make Your Offer
    • Step 7: Appraisal
    • Step 8: Title
    • Step 9: Disclosures
    • Step 10: Closing Day
  • Services
  • Contact Us
  • About
    • About
    • Privacy Policy
    • Terms of Use

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A real estate agent is assisting a client with signing a contract related to purchasing a new home.

Selling Guide - Home Buying Contingencies

Step 6: Satisfy Contingencies

Home buying contingencies are conditions added to a purchase offer.  If you do not meet any contingencies in the offer, your buyer can keep their earnest money and walk away from the deal.  This is another example of why your real estate broker is important to the successful sale of your home.  Part of our real estate services are to help you negotiate and manage the completion of contingencies to get you through the threshold to closing day. 


Common contingencies include: 

  • an appraisal required by the lender.  If the appraisal is under the offered price, the buyer will need to make up the difference somehow or the deal could fall through.  
  • qualification of the buyer to receive the required amount of lending.  If the buyer's credit changes or they experience a financial change, that could kill the deal.
  • the buyer may need to sell their current home before they can finance the deal. If the buyer fails to sell their home, they can keep their earnest money and walk away.  In a seller's market, this is not a common strategy. 
  • passing home inspection. If upon inspection, the buyer feels repairs are in order, the seller must negotiate those repairs.  If an agreement cannot be made, the deal will break and the buyer can walk away. 
  • a cloud on the title.  If the ownership of the home is in question or there are previous debts attached to the property, that will keep the deal from closing unless you can quickly correct it. 


There may be other contingencies special to the buyer, or the area, or the land the home sits on.  While contingencies are likely to be waived during an intense seller's market, they do occur and become commonplace in a buyer's market. 

We are here to help.

Ready to sell your home?  Schedule an initial consultation with John P. Sharp today.  Let's discuss your real estate goals and how we can help you achieve them.  

Schedule a Call

tip!

Make it a win-win situation. View the deal in terms of how both parties can win and you will likely avoid risking the deal over repairs or other contingencies.  This idea applies to every aspect of selling your home to a willing and able buyer.  When both parties are considered, the best deal occurs.  

Step 7: Review Title
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John P. Sharp, Premium Real Estate Broker with Skyline Properties, Inc.

19515 North Creek Parkway, STE 214, Bothell, Washington 98011, United States

Call us today at 425-230-2525

Copyright © 2021 John P. Sharp

Premium Real Estate Broker with Skyline Properties, Inc.  

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