HomeLight

DECEMBER 12, 2023

Perhaps the biggest gear that needs to turn in your favor is the mortgage loan. A common worry among homebuyers is to find the perfect house, put down a deposit with an accepted offer, and then learn that your mortgage application is denied — you lose both the house and your earnest money. How does a mortgage contingency work?

Earnest money deposit 115

Earnest money deposit Mortgages Purchase and sale agreement Finance 115

HomeLight

AUGUST 31, 2021

A cash offer simply means that a buyer already has the funds available to buy the house and can pay for it without securing a mortgage loan. From the seller’s point of view, it doesn’t make much difference whether the cash comes from the buyer’s personal bank account or from a mortgage loan. Though you can (and should!)

Due diligence 106

Due diligence Inspection Pre-approval Pre-qualification 106

The Close

DECEMBER 12, 2024

Investors also must be cautious about the propertys condition and do their due diligence. Probate properties are sometimes distressed and may not qualify for traditional financing like a mortgage. Additionally, at auction, a prospective buyer must put a cash deposit payment on the spot, which can be up to 10%.

Purchase and sale agreement 97

Purchase and sale agreement Investor Probate sale Due diligence 97