Due diligence Earnest money deposit Finance Title search 
HomeLight
JUNE 23, 2022
If the appraisal comes in below the purchase price in the contract, the buyer can back out of the contract and receive their earnest money. The Financing Contingency : This contingency, sometimes called a mortgage contingency, is also only applicable to offers requiring a mortgage to purchase the property.
HomeLight
OCTOBER 30, 2020
A cash deal can close in as little as 7 days, while financed home purchases tend to take an average of 45 days to close. With a mortgage, there are all kinds of things that can go wrong to delay closing — financing issues and appraisals coming in low are two of the most common. Financing issues. The title isn’t clear.
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HomeLight
JULY 26, 2022
If the seller is working with a listing agent, their agent will more than likely have already done their due diligence to make sure they are able to sell their home. Financing contingency. Title contingency. Order a title search from a reputable title company and open escrow. Appraisal contingency.
Realty Biz
SEPTEMBER 14, 2023
Attorneys ensure that the loan documentation is executed correctly, review the terms and conditions of the mortgage, and confirm that the property's title is clear and suitable for collateral. Lawyers do this by performing a title search. Some attorneys charge a flat fee, while others bill hourly rates.
HomeLight
MAY 24, 2022
Everyone involved will need time to perform their due diligence. Your agent can help you find a title company to handle the title search, and title insurance, which is always recommended. Submit earnest money: 1 day. Title search: 3 days. Why does it take this long?
HomeLight
APRIL 30, 2021
Buyers using financing and putting down 20% or more. Buyers using financing and putting down between 10% and 19%. A cash offer simply means you have all the money you need to buy the home in cash. Because of the due diligence involved with issuing mortgages, it takes a lot longer to close on a home with one.
HomeLight
MARCH 22, 2022
Ever heard of the due diligence fee in North Carolina? Not to rain on your parade, but North Carolina has something called the due diligence fee, separate from the down payment or earnest money deposit, that you need to have ready to nab that home. We have good and bad news. NC 1st Home Advantage.
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