When you’re new to real estate investing, there are many different variables that make submitting bids and purchasing a house a bit intimidating. When you mix in the fact that you need to put down a deposit (earnest money deposit), this makes the process even more anxiety filled. However, two protections that are often included in all sales contract, even when the property is sold “As Is,” are the home inspection and financing contingency. This video post will go into more detail on how these are structured for most home purchases, and how you will use them when purchasing a new rental property.
Please note: Always make sure to ask your real estate agent about these contingencies. There may be caveats to using them that might be different per city, state, and locality, and stricter rules than others on how to use contingencies to get your earnest money deposit back legally and per the terms of the contract.
15 Comments
as always another great vid
I wish they would have added the Nissan c110 skyline instead, it is my
dream car along with the R32 skyline.
Great advice thanks! !!!
Wow Lisa, very informative and helpful… thank you.
All the popups that say ‘click here to subscribe’ just made me ‘click here
to close and move on’.
Hi Lisa… In one of your videos you mentioned that you only buy property
that are $30k or less. Can you please make a video on how you find these
properties ? Or did you already make one? Thanks for all the info 🙂
hehe, sign up for my newsletter! It will show you step by step. Thanks!!
R u a realstate agent?? If not how you open the houses to see them?? Or you need to work with a agent?? Thank you for all your knowledge.
Hi Jeanette! I am not a real estate agent. I found an agent, because an agent has access to the multiple listing service (mls) which has the codes/lockbox information to get into the homes. Although, for vacant properties its a bit different, which I talk about in my newsletter video “Going into vacant homes”
Hi Jeanette! I am not a real estate agent. I found an agent, because an agent has access to the multiple listing service (mls) which has the codes/lockbox information to get into the homes. Although, for vacant properties its a bit different, which I talk about in my newsletter video “Going into vacant homes”