What is a finance contingency? Let’s discuss what this contingency is in this video, “What Does Contingent on Financing Mean?”:
What is a Finance Contingency on a Home?
A finance contingency means you are getting a loan on the property and your contract is contingent upon you not losing financing throughout the entire process, all the way to closing day. So if for any reason, you do lose your financing, the finance contingency is in place to help protect you and get your earnest money back.
Of course, to get your earnest money back, all parties involved in the contract must sign a mutual release, which will release the earnest money back to the buyer. Discuss this scenario with your real estate agent if you think you’d like to include a finance contingency in your next offer on a home.
Want More Information On Buying A Home?
As you probably already know there is a lot to the home buying process. If you have more questions about buying or building a house, don’t worry! We have a list of common questions that homebuyers have HERE.
If you don’t see your question on this list, then please reach out! I would love to answer all of your buying questions.
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Have More Questions about Buying a House in Birmingham, AL?
Have any more questions about finance contingencies? There’s so much to know about buying a home! Make the homebuying process easier on yourself by having an expert real estate agent guide you through the process. If you’re looking to buy or build a home in the Greater Birmingham, Alabama area, let me help you. If you’re new to the Birmingham area or looking to relocate to Birmingham, Alabama, please feel reach out to Dianna Howell with The Howell Group: 205-568-5435 or email@example.com
For information on Pelham, Alabama or Birmingham in general, contact real estate agent Dianna Howell, a top buyers agent in the Birmingham, Alabama area.
Visit our website for more information on the Birmingham area: https://howellgrouphomes.com/category/lifestyle/
🔑🏡 Want to learn more about the buying process? Then read this article for 6️⃣ easy tips: Six tips to Buying a Home
📕 Read more about the Birmingham area in this post: Relocating to Birmingham, Alabama
I have plenty of resources and information to provide including my expert help. Call me today and let’s get started on the search for your new home, whether you want to buy or build!
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