How do you protect a Buyer when they are putting down 20% and you know the home will not appraise for offer Buyer is making?
I don't find a check box for B.2 for property approval on the Third Party Financing Addendum. It is just a paragraph - no check box. Is paragraph B.2. subject to the time line outlined in paragraph B.1. for Buyer Approval or is there any time limit for property approval in paragraph B.2.?
Hi Dena, you are correct that there is not check box for Property Approval- it is simply part of any contract using the addendum (unless otherwise amended). It is NOT subject to the timeline in B1. "Property Approval"in B2 goes all the way up to closing: "Buyer may terminate this contract by giving notice to Seller before closing . . . " Please let us know if you have further questions on this!