What’s the difference between the 买方批准 and 财产的批准 paragraphs in the Third Party Financing Addendum (含1901)?
If a lender denies the buyer’s loan because of his credit history, 收入, 或资产, this falls under Paragraph B(1), 买方批准, and your client must terminate within the time required by the blank in that paragraph. 然而, if a lender will not finance the loan because of something related to the property itself, 比如低评价, 可保险性, 或者贷款人要求的维修, this falls under Paragraph B(2), 财产的批准. The time period for terminating under this paragraph is any time
在结束之前.
是的!! but the property must appraise and be in good condition….This is especially true with the buyer being able to procure homeowners insurance…Had this happen twice last yr. 由于旧屋顶..卖家 finally had to take off market and install a new roof…
Does the lender have to provide something in writing in order for the earnest money to be returned to the buyer? I have never had this situation before.
I believe it may not be required, but I require a buyer’s rep to furnish the lender rejection of the loan to assure my seller’s the release of earnest money is a legitimate request per the contract. This definition of buyer and property approval is a good measure to keep in mind.
好主意!
If the seller is willing to come down to the appraisal price, can the buyer still back out based on appraisal not making value?
Is the time period for terminating under paragraph B(2) still “any time” The new 3rd Party says “no later than 3 days 在结束之前”