How can the Seller protect itself and ensure that the Buyer is acting in good faith?
By taking certain measures at the time the contract is executed . If the Buyer does not need financing to close the transaction, then the contract should not provide a way for the Buyer to opt out for lack of financing. If the Buyer needs a loan, then the Contract should provide that Buyer make application for the loan promptly, provide Seller with proof of application immediately, and diligently pursue the financing. The Contract should require that Buyer place in Deposit an adequate amount of money, and that the Buyer conduct its inspections promptly.
