Asked by Jagdip, Springfield, VA • Wed Mar 21, 2012
I am selling house to veteran and I was asked to sign VA escape clause at the day of closing. I was shocked to see that document at the day of closing. It amends the contract and let buyer get out of contract if appraised value is less than sale price. appraised value of our house came higher than sale price anyway. It would have made more sense to sign something like this when signing original contract. Why would i sign it on the day of closing when this document does not even make any sense anymore ( appraised value came out higher than sale price anyway). I refused to sign and closing company is asking forcing us to sign it because (according to closing company) lender will not issue loan without this document. does any one else experienced this before ?
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