Tag Archives: home buying contingencies

Contract Contingencies Protect Your Deposit

When you submit an offer for a property, your contract will most likely have some contingencies, which are conditions of the sale. These contingencies exist to ultimately protect your good faith deposit in the event that you discover, for example, unacceptable property issues, end up with an appraised value that is less than the amount you’re offering, or suddenly can’t obtain financing.

But let’s back up. In a San Francisco purchase, it’s required to include a deposit equal to three percent of your purchase price. If your offer is accepted, you transfer that money via a wire or check into an escrow account held by a title company. In the event you back out of the sale for a reason other than a specified contingency, the seller is technically entitled to retain that deposit for what is called “liquidated damages.” Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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Marina
Mission

Home Buyer Boot Camp 2016


Hosted by Inside San Francisco Real Estate Blogger-Realtor Eileen Bermingham


We’ll cover:

How to secure financing

What’s happening in the market

How to win the property you want

What happens after you go in contract.


Saturday, October 8th

10:00am – Noon

4040 24th St @ Noe


RSVP by 10/6 to Eileen at

415.823.4656

ebermingham@zephyrsf.com