HomeLight

SEPTEMBER 16, 2022

Before inspections, you may fear the state of the home or the seller’s willingness to negotiate repairs if the home needs serious work. In the state of Texas, an “option period” allows a buyer to get these details before making the final choice. What is an option period? When does an option period begin?

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HomeLight

MARCH 7, 2024

You’ve planned, juggled finances, worried about finding the right house, and then you finally sign a contract. This comprehensive document details everything from the purchase price, down payment, and financing terms to contingencies, closing dates, and any specific conditions both parties must meet before the sale can be finalized.

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HomeLight

AUGUST 29, 2022

While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. Earnest money deposit amount. Contingencies: Financing, home inspection, and appraisal.

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HomeLight

MAY 24, 2022

This task can happen while you’re obtaining the funds verification (if you didn’t do that in advance), as your bank will need information on where to transfer the money. Submit earnest money: 1 day. An earnest money deposit demonstrates your good faith to go through with the offer. Option periods.

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HomeLight

MARCH 16, 2023

He adds that negotiations and home inspection issues could further reduce the price by 10%. You don’t need the added stress that comes with the risk of the buyer’s financing falling through or a home inspection turning up unpleasant surprises. The buyer does due diligence during the option period in Texas.

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Redfin

JUNE 21, 2023

Explore your loan options When buying your first investment property, it’s essential to explore the available loan options. Understanding and comparing mortgages, government-backed loans, and private financing can greatly impact your financial success.

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