Remove Due diligence Remove Loan contingency Remove Loans Remove Mortgages
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What Is a Mortgage Contingency? Purchase Offer Protection

HomeLight

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?

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What’s the Deal with Making a Cash Offer on a House?

HomeLight

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!)

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6 Ways to Find Probate Leads & Purchase Probate Properties

The Close

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%.