Everything you Need to know about Online Property Sales and Arranging for Finance
Buying a property is one of the most crucial decisions ever. It is an expensive affair, and you need to arrange for funds before you make the big decision. Finding a property can also be a challenging task. However, many times, people find the property first when the finances are yet to be arranged. In such a situation, people need to prepare for various agreements, which are known as ‘subject to finance.’ Not mentioning it in the contact can put them in trouble. What is ‘subject to finance’? When you make ‘subject to finance’ offer, it is a standard condition in the home buying contracts. The clause benefits you as it gives you time to arrange for the loan for purchasing the property that you intend to buy. It safeguards your interest because if you fail to arrange for the required funds, it allows you to end the contract and not go through with the sale. However, just like other conditions of the contract, the ‘subject to finance’ clause can also lead to serious issues,