My Wife and I went to buy a home, the morgage company next door to the realors office told us and the realtor we were approved for a 6.5% interest rate. The realtor took us around to find a house and once we did find one in our price range, the realtor wrote a contract.
After the seller agreed to the contract we were asked to put earnest money of $500 up. We did and about two weeks later while we were waiting to close on the house, the realtor contacted us and told us we were not approved and we lose our earnest money because the morgage company never told her we were approved, only we did.
In the contract, it states the the earnet money will be refunded if no fault to us.
0 comments