by David Dynes | Jan 5, 2021
A: No, the buyer only has the opportunity to provide a single notice with the BINSR. Once it has been delivered to the other party it cannot be rescinded. If the seller does not agree to correct all the items disapproved, then the...
by David Dynes | Jan 5, 2021
No, you cannot. The old reports belong to the first buyer whose deal fell through. The seller has a copy and needs to change the SPDS or other disclosures if items were called out on the reports that were not already included in the previous disclosures.
by Patrick Devine | Dec 1, 2020
If the property fails to appraise for at least the contract price, the appraisal contingency in the contract gives the buyer 5 days to cancel the contract or decide to move forward and pay the difference between the appraised value and...
by Patrick Devine | Dec 1, 2020
Paragraph 2k of the residential Purchase Contract addresses changes in financing. The buyer can make changes in the loan program, financing or lender (IF) the changes do not adversely affect the buyer’s ability to obtain loan approval, increase the...
by David Dynes | Nov 2, 2020
The Residential Income Property Addendum should be incorporated into the offer anytime you are working with a property where a tenant will be remaining after close of escrow. This addendum calls for the seller to supply an additional disclosure statement specific to...