Not exact matches
A
good contract with proper
contingencies is essential in protecting your earnest money deposit.
A home under
contract with no
contingencies is as
good as sold, as the only way out for the seller or the buyer is default.
In fact, many VA borrowers are
well - qualified and most purchase
contracts include a variety of
contingencies that allow buyers to exit if they decide not to buy the home.
This must include details about whether the state has sufficient legal and financial resources to handle the matter on its own without a
contingency fee
contract; the expected time and labor required, as
well as the complexity and skill necessary to handle the issues; and the amount of experience desired for the particular attorney services and the nature of private attorney's experience with similar matters.
Neil Jacobson and Gayla Margolin, psychologists at the University of Washington and University of Southern California respectively, were the ones who operationalized and researched this as a model of couples therapy in which people learned to be nicer to each other through
contingency contracts, communicating
better, and improving their conflict - resolution skills.
While cash is the
best, using hard - money can allow you to be more aggressive in your offer: shorter close time and you can strike the financing
contingency (we have those in our TX
contracts; be comfortable with the house as
well as your lender if you do this) even though you are financing.
If you deal with any FC matter your
contract better be customary for the area, clean, without BS
contingencies and show up as a valid,
good faith
contract.
Also, once your offer is accepted there is still tons to do, inspection, contractors, appraisal... Finally, it will definitely be a
good idea to add a
contingency to your
contract specifying that the eviction process is complete and the unit is vacant upon closing.
One of the
contingencies in the purchase
contract was a «satisfactory test of the
well system to be performed by a competent
well inspector.»
Section 11: In addition to what I've mentioned already, here's a
good contingency clause to put in the special provisions: «Notwithstanding anything to the contrary in this
contract, Buyer shall have the absolute right to terminate this
contract, for any reason or no reason at all, by delivering written notice of Buyer's intention to terminate the
contract on or before the date which is thirty (30) days after the effective date of this
contract.
Well - written purchase offers generally contain
contract contingencies that must be removed within a certain period of time.
When making offers, you will get
better results if you look like a serious qualified buyer, with no
contract contingencies.
It's
better to know the true value of your home upfront before you sign any
contingencies or purchase
contracts.
My investor buyers are making strong offers (@Keith Smith mentioned some
good strategies), but all other things being equal, when there is an appraisal
contingency in the
contract and a competing cash offer that's over what everyone knows it will appraise for - the seller's decision is easy.
We understand
contracts, deadlines,
contingencies, and conversations with our agent clients
better.