What contingencies should be put in an offer?
Where do I get information about closing costs?

Question: What contingencies should be put in an offer?



Answer:

Most offers include two standard contingencies: a financing contingency, which makes the sale dependent on the buyers' ability to obtain a loan commitment from a lender, and an inspection contingency, which allows buyers to have professionals inspect the property to their satisfaction.
A buyer could forfeit his or her deposit under certain circumstances, such as backing out of the deal for a reason not stipulated in the contract.
The purchase contract must include the seller�s responsibilities, such things as passing clear title, maintaining the property in its present condition until closing and making any agreed-upon repairs to the property.

Question: Where do I get information about closing costs?



Answer:

For more on closing costs, ask for the "Consumer�s Guide to Mortgage Settlement Costs," Federal Citizen Information Center, Pueblo, CO 81009; (888) 878-3256; pueblo.gsa.gov.