I need to rephrase the question. I had it the other way around. Sorry for the confusion.
I am the seller. The BUYER had the financial addendum on the contract. It expired on Friday and we heard back from the Buyer until Saturday about his financing not being approved (hasn't sent a lender's letter stating this). He had a pre-approval letter when he submitted the offer, though. I need to mention he backed out during his option period and then later wanted to still go through with the buying process. We took him back.
It is my understanding that without a lender's letter this is technically a breach of contract and I could pursue legal action.
Your thoughts/experience on the matter are greatly appreciated! - Sun May 11 2008, 10:14
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