HomeLight
NOVEMBER 9, 2021
A buyer using a mortgage will most likely include the following contingencies (all of which have deadlines): Inspection contingency (note: this one is optional and buyers can choose to waive it). Appraisal contingency. Home sale contingency. Mortgage contingency.
HomeLight
JULY 31, 2020
These are the top home closing delays that could affect if and when you close on your new home, and how to overcome them. For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Home sale contingency. Short sale. Loan approval.
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Redfin
MARCH 3, 2022
Make sure you know in advance how you will be getting a bank check or wire transfer, so you’re able to close on time. To avoid potential issues or delays, Western Title Company recommends informing your title or settlement agent of any IRS tax liens or bankruptcies that involve the seller or the property.
HomeLight
JANUARY 13, 2022
However, your mortgage lender will not loan you more money than a house is worth, so if the appraisal determines that the sales price is higher than the home’s actual value, as the buyer, you’ll need to be prepared to come up with the money to make up any difference. Home sale contingencies. Zoning contingencies.
HomeLight
JULY 29, 2022
Otherwise, you can arrange for a wire or bank transfer of funds that gets to the closing agent early (most likely via the title company). There are certain properties I would immediately order a title search before I do anything else: A foreclosure , a short sale , a bankruptcy, an estate sale,” Houck says.
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