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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
Q 
What land did the U.S. Government buy for $7.2 million?

A 
In March 1867, the US bought all of Russian America (Alaska) from Russia.
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John  DeSmedt, REALTOR®, real estate agent and broker for Charlotte, Lake Norman and Concord, North Carolina home listings, property and land for sale - NUMBER1EXPERT(tm)

John DeSmedt
Keller Williams

19721 Bethel Church Road
Cornelius, NC 28031
704-999-0896
Fax: 704-235-1901
JohnDeSmedt@NUMBER1EXPERT.com

I am a highly trained “Real Estate Specialist” with many years of valuable expertise. I deal with buyers and sellers from all walks of life and an assortment of needs. My website provides excellent information on various topics and allows home buyers to sign up to receive all the latest listings in any area. For home sellers I have developed a system which I refer to as the “Ultimate Home Marketing System". It has proven to be extremely successful in finding that qualified buyer. I hope you will afford me the opportunity to sit down and discuss your real estate needs.

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