Easily Remove Currency into the Purchase Agreement

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Got questions?

Below are some common questions from our customers that may provide you with the answer you're looking for. If you can't find an answer to your question, please don't hesitate to reach out to us.

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Can you negotiate price after offer accepted?

Armed with an appraisal report that sets a lower value on the property than the accepted offer, the buyer can choose to either cough up the extra money at the closing, walk away from the deal and get their deposit back or renegotiate the price with the seller.

How do I remove a buyer from a purchase contract verbiage?

Answer: You can use an addendum to add or remove any Buyers and/or Sellers. Name the original parties at the top and add the names off anyone you are adding or removing in the body of the addendum. Each party being added or removed must sign the Addendum.

How do I not lose my earnest money?

Financing and inspection contingencies protect your earnest money if your mortgage doesnt go through or the house is beyond repair. However, if you waive either contingency, you forfeit your good faith deposit if the house does not go to sale.

Can I lower my offer after its been accepted?

Once signed by both buyer and seller, your offer to purchase becomes a legally binding sales contract, at which point you can no longer withdraw your offer unless certain contingencies are not met.

Can a seller ask for more money after accepting an offer?

Yes. Imagine a situation where the seller got multiple full-price offers and is setting up for a bidding war. That seller might counter all of the appealing full-price offers, asking each suitor for a best and final bid, or request a specified higher price.

What does it mean to remove appraisal contingency?

Appraisal Contingency Removal The appraisal contingency protects the buyer and the lender from a home that isnt worth the price. Lenders will only fund the appraised value of the house, and waiving the appraisal contingency means youre on the hook for making up the difference.

What happens to earnest money if buyer cancels?

The earnest money typically goes towards the buyers down payment or closing costs. It is refunded to the buyer only upon certain contingencies specified in the contract. If the buyer cancels the contract outside of the contingencies, it is released to the seller.

Can a seller ask for more than asking price?

A Seller Giving a Counteroffer Over the Asking Price: Absurd but Not Unheard Of. Can a seller give a counteroffer over the asking price? (It seems strangeif the seller thought the home was worth more, maybe he should have started with a higher asking price.) Well, the short answer is yes.

How do you remove the condition of financing?

Once all of the mortgage conditions have been accepted by the lender, your mortgage broker will tell you and your real estate agent that you are free to waive your condition of financing. After you waive all conditions, the purchase contract becomes firm and binding.

Can a seller change his mind after accepting an offer?

Yes. A seller can back out of an accepted offer or before closing, as long as there are no specific clauses that state otherwise. That being said, whether or not a seller can back out of a contingent offer depends on the contract that was written and what is mentioned in it.

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