cash buyer wants to get a loan after acceptance

Asked by Monica, California Wed Oct 29, 2008

I submitted an offer for my all cash buyer for an Reo and it was accepted now he wants to get a loan will this be a problem???

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Sharon and K…, Agent, Livingston, NJ
Wed Oct 29, 2008

I would contact the listing agent for the property. I would think it's not a problem as long as the mortgage is not a contingency, meaning the mortgage comitment is presented instead of the missing cash amount.

From my knowledge, banks generally not accepting any contingencies on their properties.

Good luck,
Karen Abramson
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