Seller fails to arrange for the financing, through no fault of Buyer. However, financing below the stated maximum would be easily available to Buyer. Seller makes no effort to arrange the financing, and financing at or below the stated maximum is not available to Buyer. Buyer does not proceed with the closing. The contract requires Seller to provide Buyer financing from a third party.
Seller fails to obtain the required financing.
Buyer cannot qualify for a mortgage at that interest rate. Under this arrangement, at closing the lender would provide funds to pay Seller the rest of the purchase price. That is, Buyer wants a court order requiring Seller to accept periodic payments of principal and interest.