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Important Tips for Completing a Residential Contract for Sale and Purchase – Part 8b: Financing (continued)

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Important Tips for Completing a Residential Contract for Sale and Purchase – Part 8b: Financing (continued)

July 30, 2015
Tanishia Stokes
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Financing

The Contract indicates that the buyer must use good faith and make a diligent effort to obtain a mortgage loan application and a written loan commitment for Financing within the amount of time agreed upon by Buyer and Seller. If no specific time is agreed on, the time frame will be 5 days. Buyer must thereafter close on this Contract. Buyer must also inform seller of all disclosures and the overall progress of the loan application and loan commitment.

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