Geo, Home Buyer in 30265

why would i have to sign an unilateral termination notice?

Asked by Geo, 30265 Tue Jul 10, 2012

If I signed a contract on a short sale property and am still interested in the property. My real estate agent wants me to sign a unilateral termination notice because the bank LP is more than the signed binding contract. Should I sign the termination notice and if I don't what does that mean?

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Emily Peker, Agent, Atlanta, GA
Fri Jul 27, 2012
Hello - If I understand your question correctly it may be to protect your Earnest Money, the Termination Notice cancels your current contract. maybe the bank/short sale lender wont take your offer and they want a higher price? Otherwise DEFINITELY ask your Agent for clarification!
Best wishes!
Emily & Team
http://www.emilypeker.com
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