I agree with CJ and Cheryl.

With the information you have given, I agree that if the loan is not what you desired when you wrote the contract, don't release the contingency. Cancel the contract and get your deposit back. That is why it is so important to make clear on the first page of the purchase agreement as much of the details about the loan you are requesting so that you and your deposit are protected. The notice to perform is "release the contingency or release the contract".

CJ

Thank you, Thank you very much, Cheryl! I take much confidence in your answer!

If you haven't released contingencies you get your deposit back. Good luck.

Thank you so much Laarni!
You right. the sales agent said that many perform to buyers agent but not right. Their documents didn't provide on time and still not completely provided yet. anyway I'd like purchase their business property with new loan without the UCC file to another business property. The new bank agreed to get the new loan without holding onto my other business property. In case, seller does not accept the extension, my escrow deposit money is refundable to me?

Hi Samuel.

Do you have an agent working for you? I am guessing that the reason why the seller is asking for contingency removal is all the contingency dates had passed. If your loan contingency did not specify a blanket on any of your property, then have your agent point that out to the seller but you have to do it quickly because you are wasting the seller's precious time. As per contract, you only have so many days to perform and it seems like you have extended your welcome. Please have your agent write up a letter to the listing agent and to the seller re your predicament attaching the UCC from the lender but do it ASAP.

Good Luck,
Laarni

Check with an attorney.

Your question is somewhat difficult to understand. However, you say the seller accepted your offer, but the loan is conditioned on a UCC filing on a business property of yours...as I'm reading your question. I'm not a lawyer, so this isn't legal advice. However, if you've received a response that requires an action such as a UCC filing, then technically what you received is a counter-offer, not an acceptance. If that's the case, then the offer you made is null and void.

On the other hand, if your offer to purchase did contain the offer to have a UCC filing on another of your properties...why did you make that offer if you now don't want to accept it?

Again, check with a lawyer before you do anything else.