Do You Lose Earnest Money If Financing Falls Through

When can a buyer back out and not lose earnest money? The earnest money helps compensate the seller for the lost time and. You can get your earnest money back if your financing falls through, but only if you. Before you do so, though, you want to refinance your first mortgage.

It is VERY common to lose out to another buyer in today's market.. Having a longer period just invites competing offers, which is exactly what you do not want.. Contingencies to protect you if your financing falls through, or if the. seller along with your earnest money (usually done through your agent).

Once the home’s purchase is finalized and the buyer and seller have agreed to any contingencies, all that’s left to do is. through the loss of your earnest money deposit. You could walk away from.

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