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Appraisal Contingency and Cash Buyers

Real Estate Agent with Realty Executives

In the past there has been some confusion on whether or not,

according to AAR Purchase Contract ..... as it pertains to cash buyers,

Can Cash Buyers ** cancel a contract if the home fails to appraise for the purchase price anytime during the escrow period??

In essence,

does the appraisal for sales price contingency runs the life of the contract??

According to the newsletter this month from AAR, This is NOT TRUE!

"Cash buyers can only cancel a contract within the inspection period, if a home fails to appraise.

Lines 59-61 (of the AAR Purchase Contract) only apply if financing is involved.

I hope this helps! and Good luck to all of you!

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