Answers (7)
- sunnyview
- Contributions:26916
Most contracts have a financing contingency where if you don't qualify you get your deposit back. Read your contract to be sure.
Never mind. I didn't realize that the original post was from 2009.
Never mind. I didn't realize that the original post was from 2009.
- Chris Carapezza, "ccarapezza"
- Contributions:4
If you have a mortgage contingency clause typically you can get your deposit back. Make sure you contact your agent and they will help you out.
- Kathleen Becker, "katbecker"
- Contributions:91
If your loan is not approved and your loan contingency has not expired nor have you removed it, yes, you will get your deposit funds back.
Be sure to read your contract and know when your contingencies expire.
Be sure to read your contract and know when your contingencies expire.
Save yourself the headache and wake up the next day with more money by:
1- pre-qualify yourself first;
2- then look for your dream home;
3- get pre approval next;
3- contact the sellers agent directly.
1- pre-qualify yourself first;
2- then look for your dream home;
3- get pre approval next;
3- contact the sellers agent directly.
- Abraham Sandoval, "REALESTATEBYABRAHAM"
- Contributions:330
It all depends on how the contract and/or addendum were written. Like Mr. Schatzl states, if the clause was checked, you have nothing to worry about. There are some contracts that give a mandatory 17 days. If you did not sign any further addendums or counter offers you should have nothing to worry about. Contact your agent to see how the offer was written.
- Bracken2
- Contributions:1
yes
- Dana Schatzl, "Dana"
- Contributions:224
As long as your offer had a mortgage contingecy clause you will get your deposit back if you are declined a mortgage. The mortgage contingency clause has a time limit, a mortgage commitment date. You want to make sure you notify the Seller, or thier agent before that date to protect your deposit.
yes i put down a deposit on home, but do not quilify for loan will i get my deposit back
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