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Va Escape Clause Form

Va Escape Clause Form

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hey brooks kelly with hometown lenders today we're talking about the fha mandatory clause you have a bunch of buyers out in the market that are fha approved and they're not getting houses and why is that and it's because of this one form so when you make an offer that's fha and in your third party financing you check fha that seller is agreeing to signing that a mandatory clause and the amendatory clause says that the home must appraise for the purchase price or the buyer has the right to terminate so it's a protection that fha is giving their buyers but it doesn't necessarily protect the seller so while the buyer probably has every intention of paying the difference you got to make sure that they have that money to do so and that they're well intended and are going to do so if the appraisal doesn't hit otherwise there is no protection for the seller so uh this is a uh something that's come up over and over again y

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