Sentences with phrase «mortgage contingency clause»
However, Fafiyebi did not object to Lajayi's failure to comply with this provision until after May 9, by which time the purpose of the mortgage contingency clause had passed.
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However, waiving the mortgage contingency clause introduces significant risks to your situation.
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.
Not exact matches
The typical contingency clause will detail when the buyer needs to get a mortgage by and what happens if the homebuyer can not meet the terms.
A mortgage contingency is a clause written into a home sale agreement which can void the sale if certain conditions aren't met.
A mortgage contingency is a clause stating that the sale of a home can only occur once certain conditions are met.
The home inspection contingency is a good example, as is the mortgage financing clause.
Contingency Clause: When associated with a mortgage this is when the seller can back out of the purchase contract if the buyer can not obtain financing within a specified amount of time.
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.
The home inspection contingency is a good example, as is the mortgage financing clause.