Bank commitment and limitation period according to Section 196 of the Building Code

Hello everyone,

if an extension of the limitation period according to Section 196 of the Building Code were agreed upon (in the purchase contract) for the purchase of a property including land: what reason could a financing bank have to "not agree" to this extension?

And if they actually "do not agree": would they be released from their obligation to disburse the loan after the financing commitment has been granted (provided there is no corresponding regulation in the loan agreement/conditions)?

Best regards,
Stephan

And if she actually should "not agree": would she, after the financing approval is granted, even be released from her obligation

I assume the contract draft was not presented to the bank at the time of the financing approval, right?

Do you have a signed loan agreement?

(provided that there was no corresponding regulation in the loan agreement/conditions)?

But you do know that the contract you concluded with the bank consists of more than just the conditions; e.g. all that stuff in the Building Code

I assume the draft contract was not available to the bank at the time of the financing commitment, right?

Do you have a signed loan agreement?



But you do know that the contract you concluded with the bank consists of more than just the terms; e.g. all the stuff in the Building Code

The loan agreement has already been concluded. There are no corresponding reservations in this regard. And especially the reference to the Building Code is correct. This explicitly allows for an individually agreed limitation period...


Regards