Redfin

JULY 21, 2025

These include contractual protections like contingencies, state-specific allowances like the option period, and financial repercussions such as forfeiting earnest money. Common contingencies include: Financing contingency: Protects buyers if they can’t secure a mortgage loan. Can a buyer change their mind before closing?

Earnest money deposit

The Close

JANUARY 16, 2025

If youre looking to buy a home but have financial concerns or hesitations about bank loans, choosing the rent-to-own path is a great option, as opposed to the traditional mortgage path. Lets dive in so you can decide if this option is right for you.

Purchase and sale agreement

HomeLight

MARCH 7, 2024

Here’s a quick look at common factors prompting home buyers to back out of a purchase agreement: Financing issues: Buyers struggling to secure a mortgage or facing unfavorable loan terms may opt to cancel the purchase. What is an option period?

Purchase and sale agreement

HomeLight

MAY 24, 2022

Mortgage interest is tax-deductible , and many homeowners appreciate the deduction. If you only pay cash for the down payment, and take out a mortgage for the remainder of the purchase price, it keeps more money in your pocket. With a mortgage, the bank verifies that the buyer has the down payment available to close.

Purchase and sale agreement

Real Trends

OCTOBER 1, 2022

Houston is one among many markets that has experienced an uptick in the number of pending home sales falling through , a consequence of skyrocketing mortgage rates and stubborn sellers who haven’t adjusted to a cooler market. You are married to your house, but you are only dating your mortgage.”. In Houston, 20.6%

Earnest money deposit

HomeLight

JANUARY 20, 2023

Cash home buyers in Dallas typically pay less than buyers who are getting mortgages and less than agent-assisted buyers. That’s much shorter than the timeline for selling a house to a Dallas mortgage buyer, which is usually around 42 days to find a buyer, plus the typical 50 days a buyer needs to close on a purchase loan.

Sales

HomeLight

JULY 31, 2021

While a cash sale is generally quicker and simpler than a transaction involving a mortgage, Dickout notes that the timeline can vary. The buyer does due diligence during the option period in Texas (a certain number of days the buyer has to thoroughly inspect the property and terminate the contract for any reason).

Investor