Does it requrie a written rejection from a loan officer? or does it just from "buyer's sole discretion" like sweetptt said? This is why you read the contract before you sign.
In consideration of Buyer, having acted in good faith and in accordance with the terms below, being unable to obtain financing by the Closing Date, the sufficiency of such consideration being hereby acknowledged, Buyer may terminate this Agreement by providing written notice via the Notification form or equivalent written notice. Seller shall have the right to request any supporting documentation regarding loan denial. Upon termination, Buyer is entitled to a refund of the Earnest Money/Trust Money. Lender is defined herein as the financial institution funding the loan.
说contiengent on loan, but not appraisal. what is the worst scenario I can have? 还有机会退出。 谢谢。
Contingent on loan, but how is that defined?
Does it requrie a written rejection from a loan officer? or does it just from "buyer's sole discretion" like sweetptt said? This is why you read the contract before you sign.
In consideration of Buyer, having acted in good faith and in accordance with the terms below, being unable to obtain financing by the Closing Date, the sufficiency of such consideration being hereby acknowledged, Buyer may terminate this Agreement by providing written notice via the Notification form or equivalent written notice. Seller shall have the right to request any supporting documentation regarding loan denial. Upon termination, Buyer is entitled to a refund of the Earnest Money/Trust Money. Lender is defined herein as the financial institution funding the loan.
如果买家认为3%的利率能接受，再高就有风险。但批准的是3.25%，是否需要强迫买下？loan 有没有deny（还是批准了）？
所以啊，有没有什么什么的，薯老爷认为都是废纸，trash。
我可能法律条规没你强，但我理解力强。
lender没放款不算违约。你还有72-hours buyer remorse区间在settlement后合法反悔。当然你需要付both 经纪费和损失earnest money。
contract requires good faith from both parties
https://en.wikipedia.org/wiki/Good_faith_(law)?wprov=sfti1