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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

Q	What is the average age range of a second-home buyer in the United States?
A	Currently, second-home buyers in America are most often between 41 and 44 years of age.
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BJ and Chris Cole, REALTORŽ, real estate agent and broker for Paradise Valley, Scottsdale, Arcadia, Biltmore and Fountain Hills, Arizona home listings, property and land for sale - NUMBER1EXPERT

BJ Cole, Associate Broker, ABR
Realty ONE Group
7975 N Hayden Rd, Suite A-101
Scottsdale, AZ 85258
BJ Cole: (602) 510-7478
Fax: (480) 368-5140
bj@coleteam.net
We specialize in making the process of buying or selling your home as easy as possible. Together we have sold over $400 million in real estate, taken part in over $6.5 billion in luxury property transactions including appraisals, and understand what it takes to follow through to complete your sale/purchase. We excel in personalized customer service and follow through.

Chris Cole
Realty ONE Group
9366 East Raintree Dr, Suite 101
Scottsdale, AZ 85260
Chris Cole: (602) 510-7286
Fax: (480) 368-5140
chris@coleteam.net

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