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Which of the following is an essential element of a valid contract for the sale of real estate

Financing Supplemental Agreement to the Sale of Real Estate Contract - ok 2026

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The document is a Financing Supplemental Agreement related to a Sale of Real Estate Contract in Oklahoma, outlining the terms and conditions for obtaining a Conventional Loan. It specifies the responsibilities of the Buyer and Lender regarding loan application, approval timelines, appraisal values, and associated fees. The Buyer has the right to cancel the contract if loan terms are unacceptable or if the property appraises for less than the purchase price. Additionally, it details closing costs that the Buyer must cover at closing.

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Click ‘Get Form’ to open it in the editor.
Begin by filling in the loan amount in the designated field. Ensure that you include any applicable Private Mortgage Insurance (PMI).
Instruct your lender by providing a written statement of loan approval within the specified timeframe. This includes confirming credit worthiness and ordering necessary appraisals.
Review the appraised value section carefully. If the appraisal is lower than the purchase price, you have three days to notify the seller if you wish to cancel the contract.
Complete any additional provisions as needed, ensuring all parties initial where indicated for acknowledgment.

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which of the following is an essential element of a valid contract for the sale

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