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Real Estate Tips
Financing Your Home >Financing Clauses

Residential sales agreements usually have clauses referred to as financing contingencies which allow the buyers to declare the contract null and void if they are unable to obtain financing. This may be the most important condition in your contract if you are buying a home, so read the contract carefully before you sign it.

Most financing clauses set a time limit of from 30 to 45 days for obtaining a firm commitment from a lender. They may set deadlines for applying for a loan, and require the buyer's full cooperation in obtaining all the information needed to process your loan. If the loan is not approved by the deadline, it may be necessary to request an extension from the sellers or take specific steps to void the contract and get your deposit money back. Be sure to note all of the financing deadlines in the contract, apply for your loan as soon as possible, and be diligent about providing the lender with any documents that are requested.

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Real Estate Trivia
Q 
What famous hotel did John Wayne, Lee Marvin & Elvis Presley stay at while filming on Kauai?

A 
The Coco Palms
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Jason L. Mehler, REALTOR®, real estate agent and broker for Rye, Rye Brook, Port Chester and Harrison, New York home listings, property and land for sale - NUMBER1EXPERT(tm)

Jason L. Mehler, Associate Broker
Better Homes and Gardens Rand Realty

29 Locust Avenue
Rye, New York. 10580
Phone: 914-943-6450
Email: JasonLMehler@NUMBER1EXPERT.com

I work to consistently exceed customer/client expectations! When buying or selling your home, choosing the right real estate professional is your first important decision. In such a competitive market, you need the expertise, success and company backing that will help you reach your ultimate goal. And you need a personality that offers courtesy, patience and the energy to help you through this process. I assist buyers and sellers of homes in Rye, Harrison, Rye Brook, Purchase & Port Chester, NY as well as other areas of Westchester County, New York.

ABR CBR CRS ePro Equal Housing MLS REALTOR RELO SRES


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