Hi đź‘‹ I'm in texas and wanted to ask if I can back out within my option period and get my EM back under B5? Option Period ends 4/4 5pm. I found another home I'm interested in. My real estate agent told me to wait out the option period and back out with the HOA document. I copied both sections below. I feel like its better to back out during the option period because I dont want to drag it out so im not sure why my agent is telling me to wait it out. Is there a chance I wont get my EM back if I back out during the option period? TYIA [NAME OF CONTRACT] PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) RESIDENTIAL CONDOMINIUM CONTRACT (RESALE) NOTICE: Not For Use Where Seller Owns Fee Simple Title To Land Beneath Unit [HOA SECTION] (2) Buyer has not received a copy of the Documents. Seller, at Seller's expense, shall deliver the Documents to Buyer within 14 days after the Effective Date of the contract. Buyer may terminate the contract within 7 days after Buyer recei...
We are set to close on a house within the next week, and have just received a clear to close from lender. However, my partner, who is the only income on the loan, just lost their job. We have enough savings, as well as my employment, that this is not an issue for us financially. My question is, with their income being the only one on the loan, would this cause the deal to fall through this close to closing? Again, financially we are fine and only need my income plus our savings in the meantime. My main concern is primarily on closing on this house, we are 8 months into our search and 3-5 offers. My living situation relies on this house closing. I spent thousands beteween inspections, appraisal, and earnest. With us already receiving a clear to close, I am wondering if the lender will even verify employment again after this. If you have any thoughts or advice please let me know ASAP submitted by /u/Formal4 [link] [comments] source https://www.reddit.com/r/RealEstate/comme...