From: vze8f3tq@verizon.net (v)
Newsgroups: misc.consumers.house
Subject: Re: Financing & When to make an offer
Date: Mon, 13 Sep 2004 20:41:52 GMT

On Mon, 13 Sep 2004 00:36:27 GMT, someone wrote:

> you are out the ernest money and any other fees you have laid out.
>
Why would he be out the earnest money?  The "standard" mortgage
contingency is that the deposit is refunded if the buyer has made
reasonable effort and can't get approved.  Indeed, this is the main
reason why it is a weaker offer - otherwise sellers could make money
taking contingent offers and hoping people couldn't get financing and
thus lose the earnest.

But you DON'T lose it.  That's what the contract clause is all about.

-v.