17 Day Loan Contingency Removal - What is it?
17 Day Loan Contingency Removal - What is it?
Aug 25, 2020
elitepropertiesdirect.com
✨ Real estate terms made simple! ✨ Ever heard the word “contingency” and wondered what it really means? 🤔 It’s just a fancy way of saying: this deal depends on something happening first — like financing, inspections, or other key details. Contingencies are there to protect you, and I’ll guide you through every step so there are no surprises. And when it comes to your mortgage, let’s talk about the principal! Just like the principal at school is your pal 👩‍🏫, the principal in your loan is too.
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✨ Real estate terms made simple! ✨ Ever heard the word “contingen…
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FacebookRealty ONE Group Concierge of New Mexico
There’s a moment many move-up buyers hit. They’ve found the PERFECT home, they’re ready to write an offer, but their current house hasn’t sold yet. So the offer comes with a sales contingency and suddenly they’re at a disadvantage when competing with other offers. That’s where The Loan Store Buy Before You Sell changes the outcome. BBYS allows borrowers to move forward before their existing home sells. The sales contingency can be removed, the current housing payment may be excluded from DTI, an
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There’s a moment many move-up buyers hit. They’ve found the PER…
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FacebookThe Loan Store, Inc.
Deal was on track. Inspection done, appraisal ordered, loan contingency about to expire. Buyers were heading out of the country Friday night for a trip they’d planned months ago. Everything lined up for closing the following week. Then the appraisal came back. Lower than purchase price. Standard situation. Seller agreed to credit the difference so the deal could move forward. Contract addendum drafted, ready to sign. Day before loan contingency expired, seller changed their mind. Didn’t want to
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When approving a loan, it's important to conduct thorough due diligence. By understanding the real estate industry, investors can assess comps, scope of work, and potential gaps like contingency lines and insurance costs. This can help them make informed decisions. Have you thought about this? #realestate #loans #duediligence #investing #finance | Scott Carson | Facebook
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