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Home / Opinion Digests / Court Construes Contract’s Financing Clause (access required)

Court Construes Contract’s Financing Clause (access required)

In this first-impression case, a Salem Circuit Court says inserting the handwritten phrase “subject to approval of financing” into a real estate contract’s clause on the closing date makes the purchase contingent on the buyer’s ability to obtain financing. There are no reported cases in Virginia using the phrase “subject to approval of financing.” A ...

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