The term "liability" differs considerably from the term "responsibility" in jargon of legal agreements.For example, if you hire someone to enter buy/sell orders of certain Futures contracts, and she makes a "fat-finger" mistake and as a consequence, you lose a million dollars.

But to tack a $10k fee onto a deal that's already thin (using the 70% guideline) just smacks of greed (or stupidity, or a fundamental misunderstanding of what an investor buyer is looking for).Pigs get fat; hogs get slaughtered.

The performance of the borrower (agreement to make payments as described) is the borrower's consideration creating the binding contract.

If the bank (which is not a offer accepted by the owner) signed a legally binding contract, they are stuck at the price!!!

"Pigs get fat, hogs get slaughtered."

My understanding is that makes a legal binding contract.

We had an LLC set up to legally bind our partnership and in the OA detailed cashflow and equity splits, cashing out, refinance options, exit strategies, etc.

I am speaking from experience where I have gotten into binds with not having enough cash on hand to make critical repairs from bad renters.  

If we get into a bind finding more financing after we exhaust all our conventional loan options, we may pay some off to be able to buy more that way if it makes sense at that time.  

Does there always need to be an inspection before binding.