In other words, the agreement is conditional on the buyer being able to obtain a mortgage on the property. The seller would prefer that the sale close no matter how high the interest rate and how horrible the terms the mortgage carries for the buyer. The seller may be concerned that the buyer is leaving the transaction too uncertain. Thus these provisions are often negotiated.
Someone Find out how often someone has sued or been sued, and about bankruptcies and liens.
It provides general legal information to help people understand their legal rights in 100 legal topics, but is not a substitute for personal legal advice from an attorney. AS IS, subject to our disclaimer and conditions of use . All Rights Reserved. You may submit them to our Consumer BBS-Forums .