HomeLight

MARCH 31, 2022

Or you could run into issues because something major changes with your finances during the loan approval process, such as losing your job or needing to take on a car loan. The contingency allows you to walk away without penalty if you can’t secure financing to buy the house. Why would a seller reject a home sale contingency?

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Home sale contingency Sales Purchase and sale agreement Inspection contingency 80

HomeLight

OCTOBER 29, 2021

When you submit the application, be sure to ask your loan officer if the company needs any additional information or paperwork from you. In that case, you could get your earnest money back if you have an inspection contingency and make the decision within the period the contract specifies.

Closing 82

Closing Inspection Title Due diligence 82

HomeLight

JANUARY 27, 2021

This can cause issues if there are errors on your application or if there’s something the loan officer missed. Definitely include an inspection contingency. When you buy a home, you’ll typically want to have it inspected first. Of course, sellers love an inspection-free deal.

Closing costs 119

Closing costs Loans Inspection Earnest money deposit 119

HomeLight

OCTOBER 8, 2020

Kelli: Yeah, my HomeLight loan officer is always available to me. In Sacramento, most of the sellers do not do their inspections upfront. So, that buyer might have a 10 to 17-day inspection contingency and they might find something about the house that they don’t like. How does this look?”

Agents 76

Agents Pre-approval Inspection Staging 76

HomeLight

JULY 29, 2022

But you might not submit your full loan application to a lender until your offer is accepted, unless you have applied for an underwritten preapproval. As soon as you’re under contract on a home, work with your loan officer to submit your loan application. Step 3: Order the appraisal. How long is an appraisal good for?

Purchase and sale agreement 82

Purchase and sale agreement Earnest money deposit Inspection Loans 82

HomeLight

MARCH 6, 2023

Loans are between 3%-3.5% CalHFA works through approved lenders, and buyers apply for the program through their loan officer. If you have an inspection contingency in your contract, and the inspection report comes back with tens of thousands of dollars of necessary repairs, it’s time to negotiate.

Closing 86

Closing Earnest money deposit Sales Title 86

HomeLight

JULY 29, 2022

If you can’t secure new employment swiftly, you might be able to add a cosigner to your loan and count that person’s income toward your purchase. Talk to your agent and loan officer about these options. Problem: There’s an issue with the Closing Disclosure. By law, you will get your Closing Disclosure three days before closing.

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Closing Purchase and sale agreement Title Home sale contingency 104