buyer cant get financing - Posted by suzy

Posted by Tom-FL on August 19, 2003 at 16:37:43:

Well, read the contract.

Not having that particular contract in front of me, I can only speak in generalities.

If the contract is “contingent upon buyer obtaining blah blah blah satisfactory financing”, and they can’t find it, they get their earnest money back, and that’s that.

If the contract has NO financing contingency on it, the buyer DOES NOT get the earnest money deposit back, and that’s that.

That covers 98% or so, of times.

buyer cant get financing - Posted by suzy

Posted by suzy on August 19, 2003 at 16:00:58:

what happens if the buyer just cant get financing when a purchase contract is signed? Do they become in breach of contract or how is this looked upon if the seller was to take them to court?