Realtor.com

OCTOBER 29, 2020

If the appraised value is less than the sale price, the contingency enables you to back out of the deal without forfeiting your earnest money deposit , says Bishoi Nageh , president of the Petra Cephas Team at Mortgage Network Solutions, in Somerset, NJ. Get final mortgage approval. Review your closing disclosure.

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Closing Earnest money deposit Inspection contingency Purchase and sale agreement 139

RIS Media

APRIL 18, 2022

Getting rid of the mortgage financing clause in their offer. Allowing the seller to rent back for a specified amount of time. Many buyers will put in offers on homes that are contingent just in case the home of their dreams comes back on the market. . Get pre-approved for a mortgage. This one is a biggie.

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Pre-approval Backup offer Due diligence Rent back 119

Realty Biz

MAY 1, 2022

You don’t want to hang your hat on a seller looking at a pre-approval letter from some no-name lender. Some sellers will choose the higher offer when you’ve got solid financing credentials. Cash buyers don’t have any financing issues. Let The Seller Rent Back The House. Final Thoughts.

Purchase and sale agreement 145

Purchase and sale agreement Rent back Inspection Pre-approval 145

HomeLight

MAY 24, 2021

A step up from pre-qualification, preapproval often means the lender gives conditional approval, stating the size of the mortgage you’ve been preapproved for (though what constitutes a “preapproval” can vary from lender to lender). Remember, if you’re financing the purchase, you might not be able to eliminate some contingencies.

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Pre-qualification Pre-approval Purchase and sale agreement Loans 111

HomeLight

AUGUST 31, 2021

The associated contingencies , which come with additional risks for the seller, are where you’ll find most key distinctions between a cash offer and an offer backed by a mortgage loan. The most obvious contingency with an offer that requires financing is, of course, the financing itself. There’s no financing contingency.

Due diligence 106

Due diligence Inspection Pre-approval Pre-qualification 106

The Close

APRIL 28, 2022

In today’s tight inventory market, trying to help buyers with financing and limited funds feels a little like getting into a boxing match with Mike Tyson. We’ll share our strategies to improve your offer by reducing the negative aspects of financing while creatively solving some of the other concerns a seller may have.

Rent back 105

Rent back Closing costs Finance Agents 105

Redfin

FEBRUARY 2, 2021

1) Get Pre-Approved for a Home Loan. If you’re a first-time homebuyer , one of the smartest things you can do to ensure your chances of buying the home you want is to apply for a pre-approval on a mortgage. Be Ready to Act Instantly in a Seller’s Market. 2) Get a Great Real Estate Agent. How to Make Your Best Offer .

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Pre-approval Purchase and sale agreement Marketing Inspection contingency 66