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The Pat Hensley Group has Over 20 Years Experience in the Triangle Real Estate Market. Let us Help You Buy or Sell Your Next Home...
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Find Out About the Latest Homes for Sale First! We add our newest homes and other real estate listings to this web site first. It can be some time before they appear in the MLS. Find Out More > View All Offers >
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"Thank you " "We wanted to thank you for all the hard work you did to sell our old house and buy the new house." Steve and Tina B. - Cary Read Quote > View All Quotes >
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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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