Gambling on Loan Commitments
Jon Goodman
March 1, 2000
The new financing contingency in the Real Estate Commission-approved contract is §5b and reads as follows: “Loan Commitment. If Buyer is to pay all
The new financing contingency in the Real Estate Commission-approved contract is §5b and reads as follows: “Loan Commitment. If Buyer is to pay all
Question: The basic facts are as follows: Seller lists. Buyer 1 makes an offer. Seller makes counter-offer with an acceptance deadline. Buyer 1 counters
Question: I am the listing broker for a builder who put a property under contract with Buyer #1. Buyer #1 attempted to back out of
Co-Author: Richard Byron Peddie, Esq. In a previous article, we explored the ambiguity associated with the meaning of “loan approval” in loan contingencies. We examined the
Co-Author: Richard B. Peddie, Esq. What is necessary to satisfy a requirement for “loan approval” in a financing contingency contained in a real estate contract? The
Co-Author: Richard L. Levy Most restaurants and all bars require a liquor license to survive. Much of the value of a property can depend upon a
What are the pitfalls of structuring a seller-financed transaction through an installment land contract? Though the Real Estate Commission dropped its approval of the use
I have just received an otherwise desirable offer on one of my listings. Unfortunately, it is not clear whether the purchaser will be able
Must a seller honor a written offer he verbally accepted? A seller verbally accepted a written offer for a property. A second, better offer
Can a seller terminate a “liquidated damages contract” by… The box in paragraph 18(a,2) of the Real Estate Commission approved contract is checked, so that