The buyer wants to make the purchase offer contingent on a complex mortgage arrangement. The buyer's agent who is drawing up the

Question

bonufazy [111]

3 years ago

15

The buyer wants to make the purchase offer contingent on a complex mortgage arrangement. The buyer's agent who is drawing up the

contract should:

Social Studies

1 answer:

n200080 [17] · Answer 1 · 2022-03-13T12:02:17+03:00

QUESTION Options:

1. include the provision for the mortgage as the buyer requests.

2. suggest the buyer ask a lawyer to furnish the wording.

3. consult the supervising broker for advice.

4. refer the matter to the seller's agent.

Answer: suggest the buyer asks a lawyer to furnish the wording

Since the buyer wants the purchase to be contingent (Dependent on something that may or may not occur), it is wise for the buyer's agent suggest that a lawyer supply the wording. This is to protect the interests of all parties involved in the transaction, the buyer, seller and agent inclusive.