These are the checklists related to Contract Deadline: Existing Loan Documents Objection Deadline.
This deadline relates to the Buyer's right to approve or disapprove of the Seller's existing loan documents in the case where you're leaving the Seller's loan in place after Closing. It is rarely used and if you intend to buy where the Seller's loan will remain 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 Objection Deadline" checklist
Complete the "Existing Loan Documents Objection 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 or assuming the loan) please hire an Attorney to get help. Your Real Estate Broker is not qualified, trained or allowed to assist with these types of transactions.