A home that is set to close and all contingencies have been waived. This is when the lender, the
escrow
A neutral third party or attorney that handles the exchange of money and documents once mutual acceptance is reached on an offer.
agent or attorney will process the loan and
title
A legal document listing the history of ownership of the home. A title report lists all parties with a legal claim to the property, what items need to be cleared from title before the new buyer can take possession, and if there are any easements or encroachments on the property.
documents to make sure the deal will close on time. Sometimes, the sellers may still accept
backup offers
An additional offer on a home for sale where the sellers already accepted an offer.
on pending listings, but it's best to contact to your agent to find out if it's possible to submit this type of offer.
