Legal Question in Real Estate Law in Florida

It will if the bank does not agree to release the seller free and clear from the amount they are forgiving in the seller's current loan. This is giving the seller a way out of the deal if the bank does not agree to forgive the unpaid portion of his loan. Also, if additional funds are needed at closing, it is placing the burden solely on you to come up with the funds even if they are items the seller has agreed to pay for.

That just means that if the bank does not agree to a full deficiency release, the sale may not go through. You will be out whatever you spent on inspections, but you would generally get your escrow deposit back if the sale doesn't happen. Read through the terms of the agreement to make sure you understand all of the terms, and contact an attorney for legal advice if you need it. Regards,