Selling Your House With Conditions By Real Estate Agent Jeff Grimshaw

So you’ve sold your home Conditionally. Now we’re in business. This is exciting, But don’t get too excited yet, we have to get through the contingencies. Hi, I’m Jeff Grimshaw with the Kevin Flaherty Home Selling Team, powered by eXp Realty. So now the buyer will secure their real estate loan, have their inspections on the property, and review all of the reports and disclosures. This typically takes anywhere between 5 and 14 days, depending on what was initially agreed upon in the contract. In some cases when you’re dealing with a very desirable home that had multiple offers, we can negotiate for there to be NO contingencies, but this isn’t as common now with the changing market. During the contingency timeframes, the buyer of a home can back out of the real estate transaction if they are not happy with what they discover on any of the reports, disclosures or inspections that they have done. After reviewing the reports and having the real estate inspections, this is when a buyer would be asking for things to be repaired or they could possibly ask for credits because of things that they found. The buyer also has the option to back of the home if they choose, or if they have requests that we cannot come to a mutual agreement then they can also choose to back out. Also, if for some reason you are not able to qualify for the real estate loan or if the home does not appraise and we cannot come up with a mutual agreement upon price regarding the appraisal the buyer can also back out if it is in the agreement. You need to understand that if a home does not appraise for the contractual amount, the lender will only loan on the appraised value and obviously taking into consideration what the buyer is qualified for. Any additional money required would need to be made up by the buyer or the seller would have to agree to adjust their contractual price. Again, unless you have countered out any of these contingencies and they are not made a part of the contract, the buyer has the right to back out of the home and they can retain their deposit. This is why it is essential to hire an agent like myself who knows how to properly vet the buyer’s offers, and have the right conversations, and ask the right questions to the buyers’ agent and lender. The buyers’ deposit is only at risk if they have officially removed their contingencies. So I always advise my clients NOT to pack their bags until ALL of the contingencies are removed. Be sure to get the contingencies removed as soon as possible and stay within contractual timelines as much as possible. Once contingencies are removed, well, now you get a little relief and more assurance that the home sale will go through. You should be moving soon. Feel free to personally reach out to me so I can get more in detail with you and find out about your needs so I know how to properly advise and serve you. This is Jeff Grimshaw Realtor with the Kevin Flaherty Home Selling Team powered by Exp Realty. Changing Lives, one home at a time.

Contact Jeff Grimshaw
Cell: 226-916-5670

#sell my house #realestate #orangeville #caledon #mono #amaranth #shelburne

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