Can I still get my earnest money back after the 10-days period if I cannot get a mortgage?
1,361Will I be able to get my earnest money back if I am unable to obtain financing within the number of days (10 days)?
4 answer(s)
About 3 years ago
It would depend on how your third party addendum was written. That provides for a certain amount of time to obtain financing.
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DislikeAbout 3 years ago
If your THIRD PARTY FINANCING ADDENDUM under section 2 reflects only 10 days, then no. I recommend adding it up to at least 20 days.
About 3 years ago
Depending if you used Third Party Financing Form. If you checked #2 Approval of Financing and the days selected on this paragraph. Usually it’s 21 days after the executed contract date when you still have time to get financing without risking your EM.
If you need assistance I’ll be more than happy to help.
If you need assistance I’ll be more than happy to help.
About 3 years ago
This depends on your third party financing addendum. I always put a 21 day minimum buyer approval that WOULD get you back your earnest money up to the 21 day mark.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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