Changing a contract from financing to Cash after execution

Question:  Can you switch from a Contract subject to financing to cash during the transaction?

Answer:   Short answer Yes.   Under section 2. Of the REPC it states:  Sections 2.1(a) through 2.1(e) below. Any amounts shown in Sections 2.1(c) and 2.1(e) may be adjusted as deemed necessary by Buyer and the Lender (the “Lender”).  Therefore, if Buyer decides not to use a loan, they can purchase the property with Cash without the necessity of notifying Seller.

If the opposite occurs, say the Buyer discloses that the offer is cash, according to section 2.2 the following applies:  2.2 Sale of Buyer’s Property. Buyer’s ability to purchase the Property, to obtain the Loan referenced in Section 2.1(c) above, and/or any portion of the cash referenced in Section 2.1(e) above [ ] IS [ ] IS NOT conditioned upon the sale of real estate owned by Buyer. If checked in the affirmative, the terms of the attached subject to sale of Buyer’s property addendum apply.