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Can bidders provide their own financing?

April 26, 2017bidders financing

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Can bidders provide their own financing?

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Ans. Yes, but the sale will not be contingent upon financing, escrow closing will not be contingent upon financing, nor will escrow closing be extended for that purpose. Winning bidders using their own financing must at time of auction provide a written unconditional lending commitment from their lender. Failure to provide at auction will result in the winning bidder being required to use Seller’s lender, subject to qualification. Bidder must fill out loan application for their lender allowing Seller to confirm credit status.