08/29/2026
HOW LOVELY! This home cleared one of the steps in the transaction process.
Yes, there is more than one step.
A common misconception is that the initial negotiation (sales price, closing date etc) is the only phase of negotiations or that it’s just, “wait till closing.”
But, if (when) the Buy/Sell has contingencies — those could all be potential times to renegotiate.
Inspections is one of the most common and well known… buyers want to know the house is safe and about the possible repairs.
Appraisals is another common one. If the home does not appraise for the sales price — the bank’s money isn’t secure — the collateral isn’t worth what they’re loaning you.
Others that are present in the contract and worth noting are: Insurance Contingency, Contingent on the buyers selling their home, Title Contingency, Lead Base paint, and a property disclosure contingency.
°°° Meaning, the ones that pertain to your transaction need to be satisfactory, negotiated, and/or waived before closing.
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