Sentences with phrase «include contingency clauses»
Some home buyers, especially in a competitive local market, are told by their buyer's agents not to include any contingency clauses in their purchase offers.
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Experienced real estate agents recommend their home buyers include contingency clauses in their purchase offers for a) mortgage finance approval and b) a professional home inspection.
Not exact matches
Most mortgage contingency clauses also include lending terms, which set a specific dollar amount and the interest rate the buyer needs to get approval for.
At a minimum, home buyers should include in their written purchase offers contingency clauses for 1) a satisfactory appraisal of the home for at least the offered purchase price, and 2) professional home inspection.
Buyers often include a contingency «inspection clause» in the purchase contract which allows them to back out if numerous defects are found.
Virtually every home buyer needs to include, for the buyer's protection, at least two or three contingency clauses in their purchase offers: a satisfactory appraisal of the home by the lender's professional appraiser; the buyer's approval of their professional home inspector's report; and a professional termite or pest control inspection clearance.