Posted by Sue-Ling Campbell on July 12, 2007 at 20:05:31:
My question is…is my purchaser correct in insisting we sign the Form
B122 before we go to contract? She says she needs the forms signed to
get financing and she is not ready to sign my contrtact until she gets
funds sorted. Thank you.
Form B 122 Purchase Offer Form (NY) - Posted by Sue-Ling Campbell
Posted by Sue-Ling Campbell on July 12, 2007 at 09:59:43:
My purchaser claims she requires this form (B122) signed before she can get
financing. My lawyer says do not sign it because it is a binding contract rather
than just a Purchase Offer Agreement. My lawyer issued contracts and the
purchaser won’t give her lawyers details until I sign the form. I’m in a stalemate
but do not want to lose the buyer. Any suggestions? Do you know of this form
and is it the normal procedure to require this before contract are agreed? Thank
you.
Sue Campbell
Re: Form B 122 Purchase Offer Form (NY) - Posted by Rich-CA
Posted by Rich-CA on July 12, 2007 at 19:52:07:
If your lawyer wrote up the contracts, make sure he includes contingencies for those things that concern you.
Some lenders require an executed contract (both parties sign) before they will process the loan.