L ender Selection. If Buyer secures financing from a lender other than one of Seller’s Preferred Lenders, in the approval letter, the lender must include the following: They have reviewed the credit, income documents, asset documents and both the borrower and the property are approved. Buyer shall deliver to Seller the approval letter within ten (10) days of mutual acceptance of the Purchase Agreement. If Buyer is using the services of a mortgage broker to secure financing then the approval letter must be from the underlying lender, as a letter from the broker will not be accepted.
Appears in 5 contracts
Sources: Residential Real Estate Purchase and Sale Agreement, Residential Real Estate Purchase and Sale Agreement, Residential Real Estate Purchase and Sale Agreement