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Updated over 6 years ago on . Most recent reply

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14
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7
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Pedro Jose Villaroman
  • Montgomery Village, MD
7
Votes |
14
Posts

can you assign a contract that is subject to financing approval?

Pedro Jose Villaroman
  • Montgomery Village, MD
Posted

Hello BP community. I just want to ask about your insights for this matter. can you assign a contract to a cash buyer if the contract offer was subject to financing approval? Does it have to be in cash offer in the first place? I would appreciate all your comments on this.

Thanks!

Most Popular Reply

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508
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167
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Craig Wilcox
  • Investor
  • TN
167
Votes |
508
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Craig Wilcox
  • Investor
  • TN
Replied

Pedro, 

Absolutely, yes, you can assign the contract to a cash buyer.  

The financing contingency is a clause to protect the buyer in case they needed financing and can not get approval.  Since the buyer has cash and doesn't need the financing then the financing contingency doesn't apply . 

Craig

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