Home Buying in California>Question Details

Nani22, Home Buyer in Salinas, CA

I'm still waitin for loan approval from the lender. This is for a short sale home. Listing agent is asking us to remove the inspection

Asked by Nani22, Salinas, CA Thu Dec 20, 2012

contingency. We haven't removed loan contingency. If we remove inspection contingency only, will the deposit still be at risk even though loan contingency hasn't been released

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For further loans pleas give me a call we guarantee the closing date.

Edwin Mieles
Senior Loan Officer

Residential Finance

614.754.2754 Direct
614.324.4700 Ext 1561
877.224.7657 Fax
NMLS: 986881
0 votes Thank Flag Link Wed Jun 26, 2013
Hi Nani22,

Only remove the inspection contingency if you've done the inspection and everything is fine (no repairs are being requested). The earnest money deposit is still 'safe' with the loan contingency in effect - as long as you don't cancel contract for a reason other than the loan/appraisal.

Shanna Rogers
SR Realty
0 votes Thank Flag Link Thu Dec 20, 2012
If you've completed the inspection, and everything is fine, then why not remove the inspection contingency? Sounds like you're just waiting for the loan. What does your REALTOR say??
0 votes Thank Flag Link Thu Dec 20, 2012
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