real estate: The dreaded “terms” of an offer
- 06/20/16 07:31 AM
Your real estate agent just called to tell you that’s someone’s made an offer on your house! Hooray! Your first question is: how much are they offering? It’s an important question, of course, but it covers only part of the offer; the rest of the offer, called “the terms” can be just as critical, or even more so. If the buyer is seeking a mortgage, there may be financial contingencies: the offer is contingent upon the buyer getting a loan at a certain rate. (This also usually includes an appraisal contingency, during which the lender will have the property appraised, and the … (1 comments)
Your real estate agent just called to tell you that’s someone’s made an offer on your house! Hooray! Your first question is: how much are they offering? It’s an important question, of course, but it covers only part of the offer; the rest of the offer, called “the terms” can be just as critical, or even more so.
;)
;)
;)
