Question Details

John, Home Buyer in Chicago, IL

Can a buyer use different financing terms then what the offer stated?

Asked by John, Chicago, IL Thu Feb 5, 2009

Say you make an offer on a property, an it's accepted, saying you will put 20% down and finance the rest with a normal mortgage contingency. If you then decide that you would rather only put 10% down and finance the rest, and are able to obtain that financing, is there any issue with the final financing arrangement used being different then the offer?

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yes, you can just disclosure the change and hope all goes well.. Your lender will do the loan for the 10% down? make sure to get it in writing and forward the change to the proper people.
1 vote Thank Flag Link Thu Feb 5, 2009
GREAT QUESTION: Speak with your buyers agent terms can change, just amend the executed contract seller will still net the same. It happens, frankly seller does not mind as long you close on time.
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0 votes Thank Flag Link Fri Feb 6, 2009
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