QuestionJune 29, 2025

Consummation occurs when the: borrower becomes contractually obligated to the lender on the loan. borrower becomes contractually obligated to a seller on a real estate transaction. buyer and seller sign a purchase agreement. seller becomes contractually obligated to the lender on the loan.

Consummation occurs when the: borrower becomes contractually obligated to the lender on the loan. borrower becomes contractually obligated to a seller on a real estate transaction. buyer and seller sign a purchase agreement. seller becomes contractually obligated to the lender on the loan.
Consummation occurs when the:
borrower becomes contractually obligated to the lender on the loan.
borrower becomes contractually obligated to a seller on a real estate transaction.
buyer and seller sign a purchase agreement.
seller becomes contractually obligated to the lender on the loan.

Solution
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Answer

borrower becomes contractually obligated to a seller on a real estate transaction. Explanation Consummation in real estate typically refers to the point at which a buyer and seller finalize their agreement, making it legally binding. This is usually marked by the signing of a purchase agreement.

Explanation

Consummation in real estate typically refers to the point at which a buyer and seller finalize their agreement, making it legally binding. This is usually marked by the signing of a purchase agreement.
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