Get Incentives Without Using The Builder's Lender
👉Real estate contingencies clauses in a real estate contract
that allow either the buyer or the seller to withdraw from that transaction
under certain conditions.
✅These conditions include appraisal issues
issues with financing home inspections and many more.
for example let's say you're buying a house and you add an option period contingency.
If during this option period, you identify any issues with this property, you have the right to ask for repairs, to renegotiate, or to cancel that sale altogether.
💰Some key contingencies are:
🏠Appraisal contingency:
If the appraised value of the property is less than the contract price
this clause allows you to cancel or to renegotiate.
🏠Financing contingency:
If you cannot secure financing for any reason, during your due diligence period, this clause allows you to cancel.
🏠Option period contingency:
If during this option period, you identify any issues or for any reason, decide that you wanna terminate that contract, this clause allows you to request repairs, to renegotiate, or to cancel that sale altogether.
🏠Builders are notorious for initially offering incentives
or concessions that are contingent upon using their preferred lender
I stress the word initially, because those incentives can be granted with any lender of choice, for those that take the time to compare and negotiate, prior to signing a contract.
👉Contingencies are put into place to protect buyers & sellers from
issues in a real estate transaction.
#RealEstateContingencies #Contingency #BuilderIncentives #RealEstateNegotiation #HoutonMortgage #TexasMortgage
Full Video: • Why You Need Real Estate Contingencies | H...
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