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Latest Post: Thu, Sep 24 2009 12:35 AM by Moshe Cohen PhD
  • Thu, Sep 24 2009 12:35 AM
    Reo Addendum to the contract

    Read Carefully the REO addendum to the contract for a new clause. Some banks insert a clause that the buyer is responsible for the difference between the contract price and the appraised value. In some instances the buyer can not use the mortgage contingency and the buyer's deposit may be lost.

    Do not make unsupported high offers for your buyer and know the contract that your buyer is signing and any changes that lenders are putting in the contract.

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