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. Offer a Sizeable Down Payment Make a big impression by offering a large earnest money deposit (EMD) to hold the contract.

Pre-approval 75

Pre-approval Earnest money deposit Inspection Inspection contingency 75

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

Earnest money deposit 62

Earnest money deposit Inspection Due diligence Agents 62

HomeLight

SEPTEMBER 11, 2020

Get preapproved for a mortgage. The importance of getting preapproved for a mortgage can’t be overstated if you want your offer to be taken seriously. Your offer will be stronger if you build in some wiggle room relating to factors that might seriously entice the seller to pick you: Can you offer rent-back?

Earnest money deposit 80

Earnest money deposit Purchase and sale agreement Inspection contingency Home sale contingency 80

HomeLight

JUNE 30, 2021

If you have a buyer who’s going to get a mortgage, it has to make it across the finish line. You’re protected in case your house doesn’t sell — you won’t be on the hook to pay two mortgages at once. Most people can’t afford a double mortgage. Ask for a rent-back clause. Sales contingency pros and cons for buyers.

Rent back 104

Rent back Inspection contingency Earnest money deposit Finance 104

HomeLight

MARCH 2, 2023

It’s important, especially for first-time buyers, to have someone in both the real estate side and in the mortgage side of things who will represent you and help you navigate.” There are affordable housing programs, silent second mortgages that help cover the down payment, as well as others,” he says. Loans are between 3%-3.5%

Closing 91

Closing Earnest money deposit Sales Inspection 91

Realtor.com

OCTOBER 29, 2020

Appraisal contingency: With this contingency, a third party hired by your mortgage lender evaluates the fair market value of the home. Financing contingency: This contingency gives you the right to back out of the deal if your mortgage approval falls through. Get final mortgage approval. Clear the title.

Closing 139

Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

HomeLight

MARCH 20, 2023

After all, few people can afford to hold two mortgages. Financing Contingency: If the buyer’s mortgage proceedings fall through, they can walk away from the home. A home sale contingency is great for the buyer; it reduces their risk of holding two mortgages at the same time. Mortgage interest rates are high or rising.

Home sale contingency 89

Home sale contingency Purchase and sale agreement Sales Earnest money deposit 89