Sentences with phrase «if the buyer defaults»

But if they don't, they don't get legal protection if the buyer defaults for a reason that should have been foreseeable.
In Georgia, a creditor can use «self - help» (repossession) to recover property if the buyer defaults on the contract.
They impose these rates because they are lending to folks who have a bad record of paying off debts and this cuts their losses if a buyer defaults.
Whether this is because it's not explicitly stated in the paperwork or the mortgage is assumed «under the table» without lender approval, skipping this important step could leave the seller on the hook if the buyer defaults on the loan.
In order for the court to exercise its discretion, under s 49 (2) of the Law of Property Act 1925, to order repayment of a deposit, there has to be something special or exceptional to justify overriding the ordinary contractual expectations of the parties that the seller could retain the deposit if the buyer defaulted.
That's because if the buyer defaults on the first lien, you would be responsible for making up all back payments on both mortgages, plus all future payments until the primary mortgage holder forecloses.
Remember, the appraiser is usually working for a lender who must resell the home if the buyer defaults.
If the buyer defaults on the payments, the seller can repossess the property.
Then, if the buyers default, you won't be held responsible for the balance.
If the buyer defaults, their mortgage lender has a guarantee in the model leases, and guidance suggests the process between provider and lender.
Payments are still made to the seller directly, and if the buyer defaults, the seller can institute legal proceedings to get the property back.
If the buyer defaults, then the entire property goes back to the seller.
If the buyer defaults, the seller will likely default, too.
If the buyer defaults, the seller does not refund any portion of the lease payments or the option money and may retain the right to sue for specific performance.
This means that if the buyer defaults, the lender will still get their money.
If the contract falls apart the money generally goes back to the buyer but this may be negotiated or forfeited to you if the buyer defaults on the contract.
If a buyer defaults, the FHA repays the lender with money from the fund.
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