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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
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Where will you find the world's largest indoor waterfall?

A 
The lobby of the International Center in Detroit, Michigan has a waterfall of 114 feet, backed by 9,000 square feet of marble.
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Mercer Family Real Estate, REALTOR®, real estate agent and broker for Denton, Flower Mound and Corinth, Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

Mercer Family Real Estate
Keller Williams Realty

2434 Lillian Miller Parkway
Denton, TX 76205
Office: 940-381-7040
Fax: 940-382-2773
andrea@mercerfamilyrealestate.com
lisa@mercerfamilyrealestate.com
richard@mercerfamilyrealestate.com

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