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Common reasons why buyers might back out of a deal: Their financing fell through. They unexpectedly lost their job. The appraisal came in too low. A major problem was found in the inspection
When making an offer on a house, buyers typically submit what’s called an earnest money deposit as a show of good faith. This deposit, usually ranging from 1% to 3% of the purchase price, is ...
A 72-hour clause, typically inserted in real estate sale contracts, is also known as an escape clause, release clause, kick-out clause, hedge clause or right of first refusal clause. [ 1 ] The 72-hour clause is a seller contingency which allows the seller to accept a buyer's contingent offer to purchase his/her property, while allowing the ...
Buying a FSBO house requires knowledge of the homebuying process and attention to detail. One thing to be aware of: A home for sale by its owner may be listed for a lower price than agent ...
Determining how much money you need to buy a house has always been daunting for first-time homebuyers, and it doesn’t seem to be getting much easier in 2025. Mortgage rates are still hovering ...
An earnest money deposit from the buyer(s) customarily accompanies an offer to buy real estate and the deposit is held by a third party, like a title company, attorney or sometimes the seller. The amount, a small fraction of the total price, is listed in the contract, with the remainder of the cost to be paid at the closing.
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