Newsflash: Should I execute the loan/financing contingency?

First time homebuyer here. I would like to get ya’ll advice. So I’m basically 3 days away from the last day of the loan contingency right now. Getting the “green light” on the loan seems to be taking forever, probably because some of the days got lost due to the July 4 holiday, people on vacation, etc, which I understand.Anyways, as its approaching the deadline for the contingency period, am thinking of executing the contingency and walking away on the day before the contingency deadline. The thing is, i think the underwriters are taking their sweet time, and I’m pretty sure I am able to get a loan. I’m financially secure, i got pre-approved, and my record is squeaky clean and all , but you never know. $10,000 is a lot of money in the deposit, and I DO NOT want to risk losing that. I’m thinking of walking away from the deal. What do you guys think?

Read more at https://www.reddit.com/r/RealEstate/comments/6lhvae/should_i_execute_the_loanfinancing_contingency/?utm_source=ifttt

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s