New Loan Application. Within business days of Acceptance, Xxxxx agrees to (1) submit a completed loan application to a lender of Buyer’s choice; (2) authorize ordering of the appraisal (per lender’s requirements); and (3) furnish a preapproval letter to Seller based upon a standard factual credit report and review of debt to income ratios. If Buyer fails to complete any of these conditions within the applicable time frame, Seller reserves the right to terminate this Agreement. In such event, both parties agree to cancel the escrow and return EMD to Buyer. Buyer does –OR- does not authorize lender to provide loan status updates to Seller’s and buyer’s Brokers, as well as Escrow Officer. Xxxxx agrees to use Xxxxx’s best efforts to obtain financing under the terms and conditions outlined in this Agreement.
Appears in 2 contracts
Samples: Residential Purchase Agreement, Residential Purchase Agreement
New Loan Application. Within business days of Acceptance, Xxxxx Buyer agrees to (1) submit a completed loan application to a lender of Buyer’s choice; (2) authorize ordering of the appraisal (per lender’s requirements); and (3) furnish a preapproval letter to Seller based upon a standard factual credit report and review of debt to income ratios. If Buyer fails to complete any of these conditions within the applicable time frame, Seller reserves the right to terminate this Agreement. In such event, both parties agree to cancel the escrow and return EMD to Buyer. Buyer does –OR- does not authorize lender to provide loan status updates to Seller’s and buyer’s Brokers, as well as Escrow Officer. Xxxxx Buyer agrees to use XxxxxBuyer’s best efforts to obtain financing under the terms and conditions outlined in this Agreement.
Appears in 2 contracts
Samples: Residential Purchase Agreement, Residential Purchase Agreement
