The Close

FEBRUARY 6, 2024

Offer a Sizeable Down Payment Make a big impression by offering a large earnest money deposit (EMD) to hold the contract. For example, many agents ask sellers to cover closing costs for their buyer clients. That could be a pretty sizable chunk of money from the seller’s profit.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

HomeLight

MARCH 2, 2023

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. During this time, review your credit score and determine if it’s considered excellent, good, fair, or poor.

Closing 99

Closing Earnest money deposit Sales Inspection 99

Realtor.com

OCTOBER 29, 2020

If the appraised value is less than the sale price, the contingency enables you to back out of the deal without forfeiting your earnest money deposit , says Bishoi Nageh , president of the Petra Cephas Team at Mortgage Network Solutions, in Somerset, NJ. Clear the title. Plan to sign a ton of paperwork.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

MARCH 20, 2023

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). Title Contingency: If the title inspection reveals problematic issues, the buyer can insist upon remedies from the seller or walk away from the purchase.

Home sale contingency 97

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 97