pre-approved on loan but my house did not sale would I get my earnest money back

David
Home Buyer
Alabama

Answers (3)
Apurva Sanghavi
Real Estate Pro
New York, NY

also note that a pre-approval isnt ALWAYS, mean you obtained financing, there are still many contingencies to a full approval... most certainly not wishing you a dreaded "DECLINE", but pre-approval is hardly enough to consider fully obtained financing. hope this helps!

Fri Apr 18 2008, 10:58
The Key Team
Broker
Dothan, AL

As Liz said, it depends on your contract. If you had an agent working for you, then it should have been written so you would get your money back if the sale of your home didn't go through.

Hopefully that is the case.

Fri Apr 18 2008, 06:46
Liz Hoffman
Agent
Fairhope, AL
FIRST ANSWER

To clarify, did you write an offer contingent on the sale of your current home? Also, was the offer contingent on you being able to obtain financing? Most offers in our area are contingent on financing, but the contingency is another situation. Advise on the specifics and I can help further. You can e-mail me at elihoff@bellsouth.net, if you prefer not to post the details here. Also, did you have an agent representing you? Was the offer written by an agent?

Thu Apr 17 2008, 19:42

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