If I’m trying to purchase a new double wide mobile home, can a lender suggest a raise in the purchase price?

I’ve signed a purchase contract with the seller for X amount of dollars. That contract was forwarded to the mortgage company, which sent info back to the seller to raise the price 19k, due to pre-approval. Is this legal?

Asked on July 18, 2015 under Real Estate Law, Florida


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

It's perfectly legal to make suggestions--anyone can. If the contract was signed, however, it should not matter: once there is a signed written contract, both parties are held or obligated to it: the seller may not raise the price if he's already agreed in a contract to sell for a certain amount. He has to sell it to you for the price the two of you agreed on in the contract. If he won't, you could sue him for breach of contract. 

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