disclosure: If a Sale is Contingent on a Seller's purchase on a replacement property should it be diclosed if the property is a short sale?
- 09/16/10 05:41 AM
How much disclosure is really required when a seller is asking a buyer to make a sale contingent on "The Seller's successful purchase and closing of replacement property"? I am currently in a transaction representing the buyer. At the time of the counter offer, the listing agent requested that the sale be contingent on the Seller's successful purchase of replacement property. The buyer's accepted these terms based on the fact that the seller was already in escrow and we were given a closing date. The buyer proceeded in good faith by depositing their funds into escrow. Conducted Home Inspection and had lender complete … (5 comments)
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How much disclosure is really required when a seller is asking a buyer to make a sale contingent on "The Seller's successful purchase and closing of replacement property"? I am currently in a transaction representing the buyer. At the time of the counter offer, the listing agent requested that the sale be contingent on the Seller's successful purchase of replacement property.
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