@@wittie28 No, i don't agree with you at all. My parents and i have bought several houses in CA, Tx, and boston. We always use our own realtor, we NEVER trust seller realtor. I bought a house in MA, there are areas that my prof realtor, who has over 17 yrs in buy/sell pointed out...that i have never thought of....
A commenter from youtuber told me this and i have learned from her: --In Canada, it is a very competitive mkt for commercial building. Anita Mui just kept push her client to buy the building, the seller and the buyer signed the purchase and sale agreement, with down payment of $1 million, with no clause indicating if loan failed, the seller returns 100% of deposit to the buyer...by doing this, she thought can grab this great deal out of 100-200 buyers...but also, she imposed the risk onto the buyer. That is, if the loan fails, buyer will suffer loss of deposit, $1 million.
Your analysis is right. I have bought and sold several houses in MA. Every time, the deposit we put down, has a clause...if my mortgage loan is declined, i can get back 100% of the deposit, no question asked. I buy residential house. I thought rules/regulations are different for commercial property purchase.
@helenlu38912 ай бұрын
It really depends on the market. For the really hot market, the buyer might offer non condition offer. This means no matter what the buyer would buy the property! If that’s the case, the bank disapproves the loan, the buyer needs to proceed the contract. If the buyer backs out, he/she would loose the deposit
@stoneforest78972 ай бұрын
@@helenlu3891 Thank you for your explanation. That makes good sense.