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Real Estate
Reply to "financial contingency in the real state contract"
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[quote=Anonymous]I have a question about our contract. last month we finally found a house that we very much liked. We signed a contract an dstarted th eloan process. Our original plan was to put down 20% and borrow the rest. We really didnt have the 20% in cash, but our family agreed to loan us the other 10% and we would pay them back in time. What happened was that we can no longer rely on the 10% we were supposed to burrow from parents due to some health conceren with my father-in-law. Our loan consultant doesnt give us loan unless we put 20% upfront. What do we do now? If we use the "financial contingency" of the contract to break the deal are we going to be responsible for the real state agent fees? At this point we are not even concerned about our ernest money deposit compared to what we may end up loosing. ANy comments? Thanks.[/quote]
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