Buyer wrote an offer using FHA financing, seller countered with a - TopicsExpress



          

Buyer wrote an offer using FHA financing, seller countered with a requirement for a $300/day penalty if not closed within 30 days, and $300/day if loan contingency was not removed within 14 days. Offer was ratified. When lender (me) gave the FHA Amendatory Clause to the listing agent to sign, the seller refused to sign. Seller says he didnt want to give the out to the buyer if the house appraised low since they signed a no appraisal contingency offer. Is seller required to sign since they accepted the offer knowing full well it was FHA financing from day one? I believe the listing agent should have advised his client better on this matter before accepting the offer if this was an issue as this form is standard and required on all FHA loans. Love to hear some insight.
Posted on: Thu, 21 Aug 2014 01:29:23 +0000

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