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What Does Active Contingent Mean in Real Estate?
If a home is listed as “Active, subject to inspection,” the buyer and seller have signed a purchase agreement (contract), but the buyer is allowed to cancel the deal if the buyer does not like the results of the home inspection. Usually these inspections take place a few days after the purchase agreement is signed. The contingency is removed after the buyer is satisfied with the inspection results.
iBuyers: What you need to know about selling your home with an online investment firm
Key insights:
Large online investment firms known as “iBuyers” provide automated offers to home sellers.
Before selling with an iBuyer, homeowners should know how their algorithms work to generate offers — and how these offers may differ from a traditional buyer’s offer.
New data shows that selling to an iBuyer could cost the seller 2-3 times more than when they sell with a traditional real estate agent who earns a commission.