Sometimes buyers sabotage their chances intentionally to use the mortgage contingency to get out of a deal. Usually the mortgage contingemcy is the last to be waived. Maybe buyer got cold feet and using the mortgage was the only clean way to get earnest money back. DONT SIGN THE CANCELLATION QUICKLY...The buyer cannot buy another house contractually until freed from your house, so you can stall, no reason to be quick about doing the buyer the favor. I had that happen as a listing agent and the buyer found a house they liked better for cheaper and wife was pulled off the loan application so the husband couldnt get the mortgage on his own. Usually the buyer agent has every incentive to keep a deal togther and the buyer kept their agent in the dark too, I doubt the agent saw this coming a month ago.
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