When to Lock

[NewtoSanDiego]

You folks have any experience negotiating a clause in a home purchase contract to protect against big jumps in interest rates between signing of purchase contract and closing?

I’m concerned that mortgage markets may see some big volatility while waiting to close on house

e.g. if rate >0.5% higher that X% you have some exit strategy or can float price down by Y%

Thanks in advance

[NewtoSanDiego]

You folks have any experience negotiating a clause in a home purchase contract to protect against big jumps in interest rates between signing of purchase contract and closing?

I’m concerned that mortgage markets may see some big volatility while waiting to close on house

e.g. if rate >0.5% higher that X% you have some exit strategy or can float price down by Y%

Thanks in advance

[NewtoSanDiego]

You folks have any experience negotiating a clause in a home purchase contract to protect against big jumps in interest rates between signing of purchase contract and closing?

I’m concerned that mortgage markets may see some big volatility while waiting to close on house

e.g. if rate >0.5% higher that X% you have some exit strategy or can float price down by Y%

Thanks in advance

[NewtoSanDiego]

You folks have any experience negotiating a clause in a home purchase contract to protect against big jumps in interest rates between signing of purchase contract and closing?

I’m concerned that mortgage markets may see some big volatility while waiting to close on house

e.g. if rate >0.5% higher that X% you have some exit strategy or can float price down by Y%

Thanks in advance

[NewtoSanDiego]

You folks have any experience negotiating a clause in a home purchase contract to protect against big jumps in interest rates between signing of purchase contract and closing?

I’m concerned that mortgage markets may see some big volatility while waiting to close on house

e.g. if rate >0.5% higher that X% you have some exit strategy or can float price down by Y%

Thanks in advance

[SD Realtor]

Essentially you are simply asking to keep your loan contingency in effect until the day of funding. No need to negotiate a special clause. This is an available box you can check on page 1 of the Residential Purchase Agreement. Simply tell your realtor you want the loan contingency in effect until COE. He/she should know what to do. That way if you have not locked and rates skyrocket you will be fine.

I am curious though, you should be locked in within a few days after your offer is accepted unless you are buying a new home that is far from completion or you have an exceptionally long escrow.

SD Realtor

[SD Realtor]

Essentially you are simply asking to keep your loan contingency in effect until the day of funding. No need to negotiate a special clause. This is an available box you can check on page 1 of the Residential Purchase Agreement. Simply tell your realtor you want the loan contingency in effect until COE. He/she should know what to do. That way if you have not locked and rates skyrocket you will be fine.

I am curious though, you should be locked in within a few days after your offer is accepted unless you are buying a new home that is far from completion or you have an exceptionally long escrow.

SD Realtor

[SD Realtor]

Essentially you are simply asking to keep your loan contingency in effect until the day of funding. No need to negotiate a special clause. This is an available box you can check on page 1 of the Residential Purchase Agreement. Simply tell your realtor you want the loan contingency in effect until COE. He/she should know what to do. That way if you have not locked and rates skyrocket you will be fine.

I am curious though, you should be locked in within a few days after your offer is accepted unless you are buying a new home that is far from completion or you have an exceptionally long escrow.

SD Realtor

[SD Realtor]

Essentially you are simply asking to keep your loan contingency in effect until the day of funding. No need to negotiate a special clause. This is an available box you can check on page 1 of the Residential Purchase Agreement. Simply tell your realtor you want the loan contingency in effect until COE. He/she should know what to do. That way if you have not locked and rates skyrocket you will be fine.

I am curious though, you should be locked in within a few days after your offer is accepted unless you are buying a new home that is far from completion or you have an exceptionally long escrow.

SD Realtor

[SD Realtor]

Essentially you are simply asking to keep your loan contingency in effect until the day of funding. No need to negotiate a special clause. This is an available box you can check on page 1 of the Residential Purchase Agreement. Simply tell your realtor you want the loan contingency in effect until COE. He/she should know what to do. That way if you have not locked and rates skyrocket you will be fine.

I am curious though, you should be locked in within a few days after your offer is accepted unless you are buying a new home that is far from completion or you have an exceptionally long escrow.

SD Realtor

[NewtoSanDiego]

SD Realtor, thanks for the feedback.

House is new, 1st prospective buyer cancelled.

It looks like 80% done with delivery in Summer.

[NewtoSanDiego]

SD Realtor, thanks for the feedback.

House is new, 1st prospective buyer cancelled.

It looks like 80% done with delivery in Summer.

[NewtoSanDiego]

SD Realtor, thanks for the feedback.

House is new, 1st prospective buyer cancelled.

It looks like 80% done with delivery in Summer.

[NewtoSanDiego]

SD Realtor, thanks for the feedback.

House is new, 1st prospective buyer cancelled.

It looks like 80% done with delivery in Summer.

[NewtoSanDiego]

SD Realtor, thanks for the feedback.

House is new, 1st prospective buyer cancelled.

It looks like 80% done with delivery in Summer.

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