pcollins1958
Junior Member
What is the name of your state?Ohio
My husband and I are in the process of purchasing a business with the selling price of 140,000.00, however, the appraisal came in at 110,000.00 and the lender will only finance 110,000.00. Our purchase agreement with the real estate agent still says financing at 140,000.00, and the seller has agreed to the 110,000.00, but we do not have an updated contract. Does this change in the selling price make the existing contract null and void?
My husband and I are in the process of purchasing a business with the selling price of 140,000.00, however, the appraisal came in at 110,000.00 and the lender will only finance 110,000.00. Our purchase agreement with the real estate agent still says financing at 140,000.00, and the seller has agreed to the 110,000.00, but we do not have an updated contract. Does this change in the selling price make the existing contract null and void?