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Real Estate Tips
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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Real Estate Trivia
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What is the least affordable metropolitan housing market in the United States?

A 
California's Los Angeles-Long Beach-Glendale is currently rated as the most expensive metro area in the nation.
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Lori Newsom, REALTOR®, real estate agent and broker for Cincinnati, Mason and Loveland, Ohio home listings, property and land for sale - NUMBER1EXPERT(tm)

Lori Newsom
RE/MAX Elite

5729 Gateway Blvd.
Mason, OH 45040
Direct: 513-382-1400
Fax: 513-297-1560
LoriNewsom@NUMBER1EXPERT.com

Licensed in Ohio and Kentucky. My purpose is to provide home buyers and sellers with a world-class client experience, exceeding their expectations, so they will become customers for life and gladly refer their friends and family. Excellent Service-Efficient Systems-Effortless Transaction!

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