Form 22A: Financing Addendum
Join us for an in-depth overview of the NWMLS Form 22A (Financing Addendum). We will discuss form fundamentals, best practices and common mistakes, as well as contract provisions such as Loan Application, Waiver of Financing, Seller’s Right to Terminate, and Appraisals. We will talk about the importance of coaching your buyer clients about the stipulations of this form to ensure that they have the full benefit of this contingency through closing. In addition, we will touch upon the ways that listing agents can use the provisions of this form to stay informed about the buyer’s loan status, and ways selling agents can prime their buyers (and their lender) should these provisions be implemented. We will briefly touch upon several related forms including the 22AC (Loan/Lender Change Addendum); 22AL (Request for Loan Information); and 22AP (Loan Information Notice). And lastly, we will review the steps to take if your clients are denied a loan, including what information you will need to provide to the Listing Agent and which form you will need to use (spoiler alert: it is a 90I).