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| Posted By |
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LightUpOurLife
Totally in love
Member since 8/06 12785 total posts
Name:
Bonnie-Jean
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mortgage contigency
DH sent me pictures yesterday of a house we like so I called to make an appointment. Right away the realtor is pushing a mortgage contigency saying if we don't get a mortgage they keep a fee. I said let's see the house first. We made an offer figuring they would counter.
He calls today and says they would only take the offer if it was cash. We need to sign a contigency release if we are going to finance.
Is this crazy or normal?
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Posted 6/26/09 12:15 PM  |
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Prudential Douglas Elliman Real Estate
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evenedan
Need a little sunshine
Member since 9/05 3843 total posts
Name:
D
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Re: mortgage contigency
Sounds crazy to me. Especially in this market. No way!
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| Posted 6/26/09 12:19 PM |
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mandasue
LIF Adolescent
Member since 3/09 772 total posts
Name:
Amanda
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Re: mortgage contigency
sounds shady to me......maybe the house wont pass inspection or is missing COs on major stuff...
DH and i looked at one house and we fell in love with it and the price was amazing....turns out the homeowners never got COs on anything and were refusing to get them.....
they converted the garage, put up 3 decks, a pool, a back porch, a back patio and added a master bedroom and bath.....all with no health inspection or any COs.....needless to say we had to run not walk away
be careful and good luck
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| Posted 6/26/09 12:36 PM |
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cindy104
This is my "Baby"
Member since 6/08 1522 total posts
Name:
Cindy
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Re: mortgage contigency
Posted by evenedan
Sounds crazy to me. Especially in this market. No way!
I agree!! Don't sign anything!
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| Posted 6/26/09 12:40 PM |
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belladi
LIF Adult
Member since 9/06 1011 total posts
Name:
diana
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Re: mortgage contigency
Walk away... House has problems or sellers are lunatics
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| Posted 6/26/09 12:48 PM |
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Megs4
LIF Adult
Member since 11/08 1619 total posts
Name:
Megan
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Re: mortgage contigency
I agree with the other posters - don't sign it!
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| Posted 6/26/09 12:49 PM |
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LightUpOurLife
Totally in love
Member since 8/06 12785 total posts
Name:
Bonnie-Jean
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Re: mortgage contigency
I agree with you all. I was thinking maybe there is something that I wasn't thinking of since he seems so keen on pushing this on me.
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| Posted 6/26/09 6:52 PM |
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