A financing contingency in real estate
Analyzing the Financing Contingency By Fadel Brieva

A financing contingency in real estate

Fadel Brieva Fadel Brieva

Fadel Brieva

Real Estate Consultant at LAM INTERNATIONAL CORP., USA

发布日期: 2024年9月19日
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A financing contingency in real estate is a clause in a purchase agreement that makes the sale contingent on the buyer obtaining financing (such as a mortgage) for the property. This clause protects the buyer by allowing them to back out of the deal without penalty if they are unable to secure a loan within a specified time frame. If the buyer cannot get financing, they can either renegotiate or cancel the contract, often receiving their earnest money back.

Without this contingency, the buyer would risk losing their deposit if they fail to secure a loan #realestate

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