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What’s the Deal with Making a Cash Offer on a House?

HomeLight

A loan contingent on appraisal could fall through, and the seller would have to find another buyer or reduce the price. Due diligence is the time that a buyer has to investigate a property,” explains Bragg. During this period, the buyer pays a due diligence fee and they lose that money if they terminate for any reason.

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What Is a Mortgage Contingency? Purchase Offer Protection

HomeLight

If your loan application is denied, or you can’t secure financing under the terms outlined in the contingency, you can withdraw from the deal and typically recover any earnest money deposit you’ve made. How does a mortgage contingency work? This is all part of the due diligence period.

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6 Ways to Find Probate Leads & Purchase Probate Properties

The Close

Investors also must be cautious about the propertys condition and do their due diligence. Typically, probate purchase agreements don’t include a loan contingency, so you must secure a loan in time to avoid losing your deposit. This is generally paid through a cashier’s check during the auction.