How do I protect a Buyer who is putting 20% down from a lower than sales price appraisal? 7-19-2018

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?

Dena Smith
over 1 year agoJuly 25, 2018
01:16:00
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.?
Blair McCartney Nash, Assoc. Counsel, Allegiance
over 1 year agoJuly 25, 2018
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!
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