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What to Do Before Offering on a Home

RIS Media

Getting rid of the mortgage financing clause in their offer. Allowing the seller to rent back for a specified amount of time. You may see some of these things or all of them before making an offer. It will help tailor your offer when the time comes. Get pre-approved for a mortgage.

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What Is a Home Sale Contingency?

HomeLight

After all, few people can afford to hold two mortgages. Financing Contingency: If the buyer’s mortgage proceedings fall through, they can walk away from the home. Appraisal Contingency: If the appraisal fails to meet or exceed the purchase price, the buyer can back out of the contract (or, more often, renegotiate the purchase price).