1. Buyer will provide an additional $2,500 in earnest money deposit.
2. $5,000 Earnest money deposit is non-refundable.
3. Lender provides a statement that all other conditions of the loan have been met and the only outstanding issue is the absence of the tax transcripts.
4. Settlement must take place on or before Friday, September 20, 2013.
5. If settlement does not take place as scheduled, contract is considered null and void and earnest money deposit is immediately surrendered to seller.
All other terms and conditions remain the same, in full force and effect.
I am not willing to provide an additional 2500 and once again how is my earnest money deposit in question if I can't get the financing.
I hope I don't have to get a lawyer involved. :(
Linda Hughes, Realtor
Please give me a call on 2404267229. Every situation is different and if there is time in your contract, I may be able to help. You are not obligated to use that lender. I have dealt with these situations before, you need a lender that will be able to process your paperwork quickly, so time is of the essence.- Valerie Riggs
Read your purchase contract. If there is a contingency for financing and it has not been removed in writing, you should not lose your EMD if you cancel contract. If you have removed the contingency in writing you could lose your EMD - the seller doesn't HAVE to keep it but they could if you've removed financing contingencies in writing.