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?

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Purchase and sale agreement Earnest money deposit Option period Due diligence 110

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%

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HomeLight

AUGUST 29, 2022

If you plan on applying for a mortgage, your lender will want to see at least two years of steady employment or business ownership if you’re self employed. Putting less than 20% down, however, might require you to purchase mortgage insurance , but it may be worth it to become a homeowner sooner than you anticipated.

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Redfin

JUNE 21, 2023

Explore your loan options When buying your first investment property, it’s essential to explore the available loan options. Understanding and comparing mortgages, government-backed loans, and private financing can greatly impact your financial success.

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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.

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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.

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HomeLight

MARCH 13, 2023

You don’t need the added stress of waiting for the buyer’s mortgage approval or a home inspection turning up any unpleasant surprises. The buyer does due diligence during the option period in Florida. The option period is negotiated between buyer and seller.

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