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What is a Contingency?

  In my last blog I discussed what Pending means in Real Estate and I stated:   Anytime I say Pending, it means the house is under contract. Either with a contingency or not, the house is more than likely going to another buyer. It's just a matter of time until it closes and the new homeowner will be moving in. So what is a contingency?  Well a contingency in a contract is anything that must be first met to allow the sale to continue in the manner in which the contract was written. Most contracts have standard contingencies to include a home inspection, a financial contingency and an appraisal contingency. Other contingencies could include a home sale.  Home Inspection Contingency: This contingency allows the buyer to preform a home inspection (all home inspectors in the state of Virginia must have a license) and the buyer has the opportunity to ask for repairs in order for the contract to move forward. Sellers at this time can a couple of things. Repair all items Repair some it

Williamsburg Hot Sheet for January 18th- January 25th

 A Note from Liz:


Welcome to the Crazy Land of Multiple Multiple Offers!  

The market hasn’t been this fast-paced since 2004-5.


Thankfully, the housing market is far more stable than it was then, and hopefully we will continue to see listing inventory expand in the coming months.

So what does this mean for Sellers?

If you are wanting to sell a house right now, you can expect to at least get your asking price--- maybe more. Also this means that most offers are not asking the seller to pay closing costs--- a savings of 3% in your pocket!

The time is now to sell if you are wanting too!

What does this mean for Buyers?

If you are wanting to buy--- interest rates are amazing so expect to pay less for a house over the course of your loan and your monthly note. Just be aware that there are many buyers out there who are offering over asking price and paying their closing costs. When you make an offer you mus be realistic in your offer.

Are you interested in moving forward? Let's talk!!

Leigh Ann



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