Elmwood Park, IL asked in Contracts for Missouri

Q: I am under a real estate contract as a seller, And they had to change lenders because they failed the inspection. void?

I have cash buyers interested in the property but I’m not sure if I’m still legally bound to sell to the first buyers. I didn’t not put a closing date on the contract. I’m having a very difficult time paying the mortgage while I’m waiting for thier new bank to inspect the home.

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1 Lawyer Answer
Ronald J. Eisenberg
Ronald J. Eisenberg
  • Chesterfield, MO
  • Licensed in Missouri

A: You should have an attorney review the contract. This is too important of a determination to make based on any answer you might receive from someone who has not seen the contract and is not your attorney. I doubt, however, that the contract requires a specific lender.

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