Remove Earnest money deposit Remove Pre-approval Remove Residential
article thumbnail

Can You Submit Multiple Offers On Homes At Once – A Legal And Ethical Analysis

Rochester Real Estate

Factors such as earnest money deposits, loan approvals, and real estate agent involvement should be considered. Begin by confirming your loan approval and securing a complete and documented pre-approval from your lender. It is vital to understand the legal and ethical implications of this approach.

article thumbnail

Ask Brian: What Happens When a Home Buyer Backs Out of a Signed Purchase Agreement?

Realty Biz

Because your buyer is saying it is about not taking out a mortgage at today’s interest rate, I’m thinking the earnest money is what you will primarily get from a failed sale of your house. You did get an earnest money deposit, didn’t you? I ended up keeping the earnest money on the very first house that I sold.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Do I Cancel a Home Purchase Offer? Cold Feet

Realty Biz

In my eagerness to buy my first home, I made a full-price offer with the only continency being that my mortgage was approved. Your question is very timely as the residential market is transitioning away from being a seller’s market to being a more balanced market. I didn’t even include an inspection contingency. What do you think?

article thumbnail

The Best Mortgage Blogs From 2017 | Advice For Home Financing

Rochester Real Estate

For example, if you use a bank for your loan you may already have a pre-existing relationship with them and they sometimes offer very competitive interest rates. Have you tried calling a bank on a Saturday night to get a pre-approval letter? Here are some of Anita’s thoughts on the subject.

Finance 52
article thumbnail

How To Win a Bidding War

Louisville Homes

Get a Pre-Approved. If you cannot afford a cash purchase, you need to get a mortgage pre-approval before house hunting. If you want to win a bidding war, good luck if you’re not pre-approved. However, when you have been pre-approved you can act fast and lockdown on the house.

article thumbnail

How to Sell a House by Owner in Colorado

HomeLight

However, be aware that if you get a pre-listing inspection, you will be required to share relevant findings with buyers and how you did or did not address them. These include: Seller’s property disclosure (residential). Get a pre-listing appraisal. Alternatively, you could pay for a pre-listing appraisal. Earnest money.

article thumbnail

How to Sell a House by Owner in Florida (2022 Updates)

HomeLight

However, be aware that if you get a pre-listing inspection, you will be required to share relevant findings with buyers and how you did or did not address them. A pre-sale inspection also won’t necessarily stop a buyer from procuring their own independent inspection before closing. Get a pre-listing appraisal. Earnest money.