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Updated over 2 years ago,
Filling out "As Is" contract with financing contingencies
I'm obviously embarrassed to ask this, but please don't rip me to shreds. I'm a new agent who just switched brokerages and no one from within my brokerage is answering me but I'm on a time deadline. I'm stressed about filling out this contract since it's my first one to be filled out with financing contingencies.
Purchase price is $166k and my client is putting down $8300. The rest is being financed. I'm confused about how I fill out 2C and 2E on the "As Is" contract and the videos I've watched aren't really helpful. Do I show financing as 100% and cash to close as $0 since her loan will be for $166k? Or do I show financing as 95% and cash to close as $0 since she is putting 5% down cash? Or are neither of those options correct?