It looks like the new 6.0 contract will add a second financing date to the current "clear to close" date. Under this contract, the buyer will also have to notify the seller when the buyer's loan has been submitted to underwriting. Failure to do so will result in a complete waiver of the financing contingencies. Therefore, the buyer's real estate attorney or lawyer will need to be in contact with their client's lender more than previously.
http://www.199closing.com
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