7 Terms to Watch for in a Purchase Contract Apply Now

  1. The closing date.See if the date the buyer wants to take title is reasonable for you.
  2. Date of possession.See if the date the buyer wants to move in is reasonable for you.
  3. The earnest money.Look for the largest earnest-money deposit possible; since it is forfeited if the buyer backs out, a large deposit is usually a good indication of a sincere buyer.
  4. Fixtures and personal property.Check the list of items that the buyer expects to remain with the property and be sure its acceptable.
  5. Repairs.Determine what the requested repairs will cost and whether youre willing to do the work or would rather lower the price by that amount.
  6. Contingencies.See what other factors the buyer wants met before the contract is finalinspections, selling a home, obtaining a mortgage, review of the contract by an attorney. Set time limits on contingencies so that they wont drag on and keep your sale from becoming final.
  7. The contract expiration date.See how long you have to make a decision on the offer.

Questions about Lendem Financial mortgage loan options? Why you should think about using a mortgage broker vs a bank? Using a Mortgage Loan Officer that has access to all sources of lending institutiuons helps people get the best loan for their situation and offers all options on the market vs the programs at one bank. Call Todd Rubick of Lendem Financial and tell him why the bank said no... If your tax returns do not show your true income, or credit is less than perfect... Full service all source lending strategies will be offered for those that need them.