When a Purchase & Sale Agreement designates a Closing Attorney to hold the Earnest Money, beware that the Attorney may inadvertently create an issue that must be resolved contractually! Watch the video to find out what that issue is & how to correct the problem they may create!
Georgia Association of Realtors (GAR) has completed the Midyear Revision of the Contract Forms. One of the biggest changes involves the Amendment to Address Concerns F704. Please watch this video for a full explanation! Index of 6/1/19 Changes to GAR Contract: https://files.constantcontact.com/1a9… PRIOR TO GAR Change 6/1/19 Video: “Amendment to Address Concerns – Is There a Time Limit” https://youtu.be/PhsAtxfwUPg
If the Buyer doesn’t terminate based on the Financing Contingency, may the Seller terminate the contract if the Buyer doesn’t provide proof of a loan commitment from a Lender? Watch the video to find out!
Related Videos:
Do I Need an Approved Lender on a Loan Exhibit? https://youtu.be/Fchlf9u9BUo When is a Buyer NOT Protected With a Loan Denial Letter? https://youtu.be/uUz8WHpmA6E When Must a Buyer Send a Loan Denial Letter? https://youtu.be/qQyEu7fKs2k
If a Buyer terminates a contract that is subject to Financing Contingency, they must do so prior to the expiration of the contingency time frame AND prove it with a Loan Denial Letter. HOWEVER, there are very specific reasons that are prohibited & will NOT protect a Buyer’s Earnest Money… watch the video to learn what those reasons are!
ALSO WATCH:
Must I Use an Approved Mortgage Lender? https://youtu.be/Fchlf9u9BUo When must I send the Loan Denial Letter? https://youtu.be/qQyEu7fKs2k
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