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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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| Q |
What celebrity home sold recently for a reported $5.5 million, despite its yellow-and-rust striped paint job?
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| A |
This Hollywood Hills residence was the former home of the popular singer, Madonna.
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The Jim Buff Team Keller Williams Professionals Realty 86 Asheland Avenue Asheville, NC 28801 Tel: 828-771-2310 Fax: 828-771-2311 Email: email@jimbuff.com
Jim Buff specializes in North Carolina Real Estate and Luxury Homes, Land and Condo sales. Put success on your side, call Jim!

   
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