Which of the following is generally not true of a financing contingency?
A) It is a condition of closing in the agreement of purchase and sale
B) Trigger the payment of break-up fees if not satisfied.
C) Protects both the lender and seller
D) Primarily protects the buyer
E) Primarily protects the seller

Question

Quizplus · Accepted Answer

A financing contingency primarily protects the buyer, not both the lender and seller. It allows the buyer to back out of the purchase if they cannot secure financing.

Which of the Following Is Generally Not True of a Financing