These are the checklists related to Contract Deadline: Existing Loan Documents Deadline.
This deadline relates to the Seller's obligation to provide you copies of the existing loan documents if the Seller's loan will remain in place after Closing. It is rarely used and if you intend to buy a property where the loan remains in place after Closing you'll want to hire an Attorney for assistance since Real Estate Brokers are not qualified or trained to do this and not allowed to assist with this.
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- Complete "Existing Loan Documents Deadline" checklist
Complete the "Existing Loan Documents Deadline" checklist:
- IF EXISTING LOAN REMAINING IN PLACE AFTER SALE: Hire Attorney to help
If you're buying a property and the Seller's loan is remaining in place after the sale (also known as buying a property Subject To the existing financing) please hire an Attorney to get help. Your Real Estate Broker is not qualified, trained or allowed to assist with these types of transactions.