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All agents are NOT alike! Find out why I am RE/MAX Classic's Top Individual Agent. Call me at 248-348-3000 ext. 230 or on my cell: 248-760-5008.

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Real Estate Tips
Financing Your Home >Financing Contingencies

Standard real estate purchase agreements usually contain language that releases the purchaser from an agreement if they are unable to get financing within a specified period of time. This contingency includes a full return of the earnest money deposit. If you are buying a home, you should read the financing clause carefully and be sure that you fully understand the terms of the agreement.

You are usually required to apply for your loan promptly and to comply with requests from the lender for any documentation needed to complete the loan application. The contract will also set a time limit by which you must have loan approval. If your lender cannot meet the financing deadline and needs additional time to complete the loan, you must ask the sellers for a written extension.

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Real Estate Trivia
Q 
Exactly how many islands are included in the group called the 1000 Islands?

A 
There are actually 1,864 islands in the 80-mile stretch in the St. Lawrence River, between Ontario, Canada and New York State.
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Paul Mruk, REALTOR®, real estate agents and broker for Oakland County and Wayne County, Michigan home listings, property and land for sale - NUMBER1EXPERT(tm)

Paul Mruk
RE/MAX Classic

26870 Beck Road
Novi, MI. 48374
Phone: 248-348-3000
Fax: 248-347-1169
Email: paulmruk@NUMBER1EXPERT.com

Top Producer, Top Negotiator Who Places His Clients First!


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