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What Does It Mean to Back Out of a Home Purchase?

HomeLight

This action is more formally known as rescinding or voiding a residential home purchase agreement. You lost your job or income: A significant change in your employment status can impact your ability to secure financing, prompting a reassessment of your homebuying plans.

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The Ultimate Guide to Buying a House in Oregon

Redfin

Various programs are available for first-time homebuyers in Oregon , including the Oregon Bond Residential Loan Program Cash Advantage , which includes a grant of 3% of the total loan amount that can be used for closing costs assistance.

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

Chain of title is an historical record of previous owners of a property that’s essential in establishing the legal ownership of the property. An established chain of title helps protect the buyer from future challenges to ownership. A title search helps create that chain and is usually conducted by a lawyer or title company.