First time scenario for me. Third party financing addendum question. A buyer asked me if they can back out of the contract and get their EM back if the interest rate the lender is giving them is now higher than what we had in the TPFA. We are past the buyer financing approval period. Does the TPFA grant the ability for a buyer to back out at anytime if their locked interest rate exceeds what was first put into the financing addendum? Thoughts please?
Posted by MarkColaci at 2022-04-06 18:15:36 UTC