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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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Bill and Luanne Hauck RE/MAX of Barrington 306 West Northwest Hwy Barrington, IL Il 60010 Office Main: 847-381-8800 Office Fax: 888-624-7629 Bills Cell Phone: 847-624-3272 Bills Email: email@example.com Luannes Email: luanne@PreLovedHomes.com
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Welcome to our web site. We are Bill ( Broker agent)and Luanne (Assistant) Hauck of RE/MAX of Barrington. We are the #1 Husband and Wife team at RE/MAX of Barrington, McHenry Counties largest selling real estate company. We go the extra mile to help you achieve your goals. That's why we constantly research the market and property values so your home is priced effectively from day one to coincide with our marketing plan getting you the most return on your investment. We also make sure the public knows your home is for sale by using innovative advertising and marketing techniques to attract potential buyers.
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