Loan Contingency-Multi-Unit

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Posted by Edwin on May 19, 2009 at 09:39:56:
I've heard horror stories about lenders who have already committed and approved loans, backed down from their commitments on the very last day of closing leaving the buyer on the hook for the deposit. Although, I have heard this occurring in the residential side, I haven't heard this occurring in the commercial side, but it seems that it's very possible. What's the safest way to write this contingency in in the sales contract, and will the sellers accept an offer with this type of contingency? How practical is this contingency in today's financial markets? Thanks.

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Re: Loan Contingency-Multi-Unit DMcGehee.SF 21:52:04 05/19/09 (1)

Re: Loan Contingency-Multi-Unit Edwin 13:10:08 05/22/09 (0)

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