Legal Question in Banking Law in Georgia
Home buyer is requesting an amount greater than the purchase price. The extra money is going to be used for repair and replacement within the home. The lender is requiring the buyer to use a contractor from a lender approved list. Quotes are understandable but is it legal to require use of a specific contractor for the actual work?
Asked on 10/25/11, 1:59 pm
1 Answer from Attorneys
Glen Ashman
Ashman Law Office also dba Glen Ashman Attorney
Nobody here has read the sales contract to know the terms so there is no way anyone here can answer you. Neither a home seller nor a home buyer should sign a home sale contract without their own personal attorney reading the papers before signing (NOT the closing lawyer, who works for the lender), so you should be asking your attorney.
It can be a complete disaster to buy a home without one, so DO NOT.
Answered on 10/25/11, 5:17 pm
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