Houston, Sugar Land and Missouri City, Texas Real Estate Listings & Homes For Sale - The Sheree Chang Team

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Financing Your Home >Financing Clauses

Residential sales agreements usually have clauses referred to as financing contingencies which allow the buyers to declare the contract null and void if they are unable to obtain financing. This may be the most important condition in your contract if you are buying a home, so read the contract carefully before you sign it.

Most financing clauses set a time limit of from 30 to 45 days for obtaining a firm commitment from a lender. They may set deadlines for applying for a loan, and require the buyer's full cooperation in obtaining all the information needed to process your loan. If the loan is not approved by the deadline, it may be necessary to request an extension from the sellers or take specific steps to void the contract and get your deposit money back. Be sure to note all of the financing deadlines in the contract, apply for your loan as soon as possible, and be diligent about providing the lender with any documents that are requested.

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Q	What island in the St. Lawrence River was given away on a television game show in 1964?
A	Price is Right Island was given away by Bill Cullen on "The Price is Right."
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The Sheree Chang Team, REALTORÂ®, real estate agent and broker for Houston, Sugar Land and Missouri City, Texas home listings, property and land for sale - NUMBER1EXPERT(tm)

The Sheree Chang Team
RE/MAX S.W. Houston, Tx.
14905 SW Freeway
Sugar Land, TX. 77478
Phone: 281-207-6888
Fax: 281-242-6754
Toll Free: 1-888-289-7679 ext. 5227
Email: Sheree@ShereeChang.com

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