Are the seller and listing broker obligated to submit the second offer or back-up contract to the lender though the lender has not yet accepted or declined the first contract?

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  • Are the seller and listing broker obligated to submit the second offer or back-up contract to the lender though the lender has not yet accepted or declined the first contract?

This question depends on the relationship between the seller and the seller’s lender. As a real estate licensee, you should be careful not to advise the seller on this relationship; encourage your seller to seek the advice of an attorney.

Source: TAR

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