Question

In a buyer's market, a buyer could include a clause in the offer stating that the buyer can obtain financing satisfactory to the buyer without providing the specific details to the seller.

a) True
b) False

Answer 1

In a buyer's market, a buyer can include a financing clause in the offer without providing specific details to the seller.

Step-by-step explanation:

In a buyer's market, a buyer can include a clause in the offer stating that the buyer can obtain financing satisfactory to the buyer without providing specific details to the seller.

This statement is true. In a buyer's market, where there are more homes for sale than there are buyers, buyers have more negotiating power. Including a financing clause allows the buyer to protect their interests and have an opportunity to secure financing before finalizing the purchase.

For example, a buyer can include a clause that states, 'This offer is contingent upon the buyer obtaining a mortgage loan with an interest rate not exceeding 5% within 30 days.'