What happens if I can’t sell my current home in time to buy a new one?
If you’re unable to sell your current home in time to buy a new one, don’t worry! There are a few options you can explore. Renting out your old home can be a great way to cover the costs while you wait for a buyer. Another option is to consider a bridge loan. This can help you make a down payment on a second house even before selling your current home. So, you have flexibility and solutions to ensure a smooth transition to your new home.
Under what conditions will I lose my earnest money deposit?
To safeguard your earnest money deposit, it’s crucial to take certain measures. Ensure that the contract includes contingencies for financing and inspections, as this will protect you from potential losses. Without these contingencies, you run the risk of forfeiting your deposit in the event that you are unable to secure financing or if a significant defect is discovered during the inspection. It’s important to be vigilant and proactive in protecting your investment.
Can I get out of a home purchase contract?
The answer is yes, but be cautious. Without any contingencies in the contract, backing out could result in costly consequences like losing your earnest money deposit. Nevertheless, as a buyer, the ability to back out of an accepted house offer can bring relief and peace of mind.
What does a real estate agent do?
Think searching for homes online is easy? Think again. With a skilled real estate agent by your side, they do all the heavy lifting for you. From staying updated on new listings to scheduling viewings and coordinating with the seller’s agent, they’ve got it covered. And the best part? They have access to exclusive home listings that the public can’t find. Plus, if you’re selling, a competent agent knows how to market and stage your home for sale. And don’t worry about the commission – sellers typically cover the buyer’s agent’s fee. So, why not take advantage of their expertise?