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What does the lienholder agree to under the TREC short sale addendum quizlet?

Under the TREC Short Sale Addendum, what happens if the lienholder refuses or withdraws its consent and agreement prior to closing and funding? The answer is the contract will terminate and the earnest money will be refunded to buyer.

What is a conventional financing addendum?

A third (3rd) party financing addendum is attached to a sales contract that outlines the terms of a loan (e.g., conventional, FHA, VA) that is agreeable to the buyer in order to close on the property. The sales contract is usually contingent upon the buyer receiving the loan as detailed in the addendum.

What is a finance addendum?

An addendum is an attachment to a contract that modifies the terms and conditions of the original contract. Addendums are used to efficiently update the terms or conditions of many types of contracts.

Which of the following is not a TREC promulgated addendum quizlet?

The answer is Reverse Mortgage Financing Addendum. The Reverse Mortgage Financing Addendum is not a TREC promulgated addendum; it was approved for voluntary use for a time but no longer exists.

What is third party financing addendum Texas?

Third Party Financing Addendum (Form ID: 40-9) 03/01/2020. Description: This Addendum is used when any type of financing for all or part of the purchase price will be provided by a third-party (not the Seller or Buyer).

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What is 3rd party financing?

What is Third-Party Financing (TPF)? The Third-Party Financing refers solely to debt financing. The project financing comes from a third party, usually a financial institution or other investor, or the ESCO, which is not the user or customer.

What is third party financing addendum Texas?

Third Party Financing Addendum (Form ID: 40-9) 03/01/2020. Description: This Addendum is used when any type of financing for all or part of the purchase price will be provided by a third-party (not the Seller or Buyer).

Which of the following types of financing is not addressed in the TREC third party financing addendum quizlet?

Which of the following types of financing is not addressed in the TREC Third Party Financing Addendum for Credit Approval? The answer is reverse mortgage financing. The forms specifically state that the addendum is not to be used for reverse mortgage financing.

Which of the following is true under the TREC third party financing addendum?

Which of the following is TRUE under the TREC Third Party Financing Addendum? The answer is time is of the essence. The answer is do nothing; it is already in the contract. What happens if buyer's credit is not approved under the TREC Third Party Financing Addendum, and the buyer gives timely notice to the seller?

Which of the following is true under the TREC third party financing addendum?

Which of the following is TRUE under the TREC Third Party Financing Addendum? The answer is time is of the essence. The answer is do nothing; it is already in the contract. What happens if buyer's credit is not approved under the TREC Third Party Financing Addendum, and the buyer gives timely notice to the seller?

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What does the lienholder agree to under the TREC short sale addendum quizlet?

What is a conventional financing addendum?

What is a finance addendum?

Which of the following is not a TREC promulgated addendum quizlet?

What is third party financing addendum Texas?

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What is 3rd party financing?

What is third party financing addendum Texas?

Which of the following types of financing is not addressed in the TREC third party financing addendum quizlet?

Which of the following is true under the TREC third party financing addendum?

Which of the following is true under the TREC third party financing addendum?

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