The Close

FEBRUARY 6, 2024

The less your buyers need to finance, the less likely the deal will fall through. They only had to finance a small part of the home loan (less than $100,000) after they offered to pay 80% of the list price in cash. Work with your lender before you submit any offer, and start the loan process for your clients early.

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HomeLight

APRIL 19, 2021

Being able to afford a home in this swanky NYC borough means enjoying unparalleled access to the world’s preeminent nexus of culture, cuisine, architecture, and finance. Sellers appreciate cash offers because of their faster timelines, as there’s no need to wait for a mortgage loan. Things move really quickly here,” says Chou. “A

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HomeLight

JUNE 30, 2021

A financing contingency — which says that if your lender can’t close the mortgage on your home, you can back out — will protect you if you need to sell your current home to get the money to qualify for your new loan. Ask for a rent-back clause. Some lenders offer a product called a bridge loan.

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HomeLight

MARCH 2, 2023

With tips on everything from how to save for your down payment, specific loan programs for buyers, and what you should look for in an agent, we’ve got you covered. Typically, the higher your credit score, the lower your interest rate will be, which saves you money over the life of the loan. Loans are between 3%-3.5%

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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. Review your closing disclosure.

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HomeLight

MARCH 20, 2023

Financing Contingency: If the buyer’s mortgage proceedings fall through, they can walk away from the home. 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). Offer a larger earnest money deposit.

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