Common use of APPLICATION FOR FINANCING Clause in Contracts

APPLICATION FOR FINANCING. If applicable, Buyer agrees to make complete application for new loan or for loan assumption within N/A business days from --- the execution date of this Real Estate Contract and to request that the loan or the assumption be approved on or about N/A calendar days after application. --- Complete loan application includes ordering and paying for any credit reports or appraisals that are required to make the loan. In order to timely complete the application required by this Paragraph 5, Buyer agrees to provide lender with all requested information. Unless otherwise specified, if said loan is not closed or assumed, Buyer agrees to pay for loan costs incurred, including appraisal and credit report, unless failure to close is caused by Seller, in which case such expenses will be paid by Seller. Buyer understands that failure to timely make loan application as defined above constitute a breach of this Real Estate Contract.