What is a Financing Waiver?
When you’re ready to put an offer on a home, there are a few different things you can do to make it more attractive to the seller. One way is to include a financing waiver in your contract.
Let’s talk about a financing waiver. Buyers who wish to present a stronger offer can choose to elect an option in the as-is contract that waives all of their financing contingencies. This means that if for any reason if their loan is denied that cannot be a reason for terminating the contract.
The waiver is a great way to present a solid offer to the seller, and it also protects the buyer in case they are unable to obtain financing. It’s important to note that the waiver is not a loan commitment, and the buyer is still taking on all of the risks associated with obtaining financing.
If you are thinking about submitting an offer with a financing waiver, be sure to speak with a real estate agent and lender ahead of time to make sure you understand all of the risks.
If you’re interested in learning more about how a financing waiver could benefit you during your next home purchase, contact one of our forever real estate agents today! They would be happy to answer any of your questions and get you set up with a knowledgeable lender.
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