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Financing Your Home >Financing Contingencies
Standard real estate purchase agreements usually contain language that releases the purchaser from an agreement if they are unable to get financing within a specified period of time. This contingency includes a full return of the earnest money deposit. If you are buying a home, you should read the financing clause carefully and be sure that you fully understand the terms of the agreement.
You are usually required to apply for your loan promptly and to comply with requests from the lender for any documentation needed to complete the loan application. The contract will also set a time limit by which you must have loan approval. If your lender cannot meet the financing deadline and needs additional time to complete the loan, you must ask the sellers for a written extension.
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How many step are there leading to the top of the Eiffel Tower in Paris, France?
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Visitors who walk to the top must go up 1,792 steps. |
 See More Real Estate Trivia > |
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Joe Vetrano
HK Lane Real Estate
72-895 Fred Waring Dr.
Palm Desert, CA 92260
Tel: 760-963-0587
Fax: 760-564-9083
Email: joevetrano@yahoo.com
Joe began his real estate career in 1989 at Ocean Colony Realty in Half Moon Bay, California, selling custom homes to Bay Area residents. A combination of understanding the ever changing real estate market along with the lifestyle that clients expect when purchasing a home in private golf communities has helped Joe continue to be a top producer year after year.
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