Last reviewed 10-31-2026Short-Sale.com Editorialglossary

Best Efforts Contract

FreddieMac

Updated 10-31-2026

Best Efforts Contract

A Best Efforts Contract is an agreement between the Seller and Freddie Mac for the purchase of a specified Mortgage with respect to which the Seller's obligation to deliver the Mortgage becomes mandatory only when and if the Mortgage is closed and funded.

FreddieMac Glossary

FreddieMac · p. 4

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