The Earnest Money Deposit | VA Mortgage Costs and Fees – The VA loan earnest money deposit is an amount collected from the buyer. The earnest money is cash evidence of the “good faith” of the buyer when making an offer to buy a home. If a buyer who provides an earnest money deposit walks away, the earnest money is kept by the seller.
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The VA Loan Earnest Money Deposit – VAMortgage.com – If the buyer who provides an earnest money deposit completes the purchase, the. repair the buyer can cancel the loan and receive the earnest money refund.. gets you a good deal but protects you should the purchase offer fall through.
When Do Buyers Get an Earnest Money Refund? – However, when real estate transactions fall apart, earnest money is refunded to the buyer more often than not. Buyer dissatisfaction with property reports. buyer’s inability to obtain financing. Contrary to popular belief, earnest money is not automatically forfeited to the seller if the deal falls through.
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Is earnest money returned if the lender never comes through with the. – Financing appraisal and inspections. If any of these are not satisfied then the contract may be canceled and earnest money is returned to buyer. If you can do an amend/extend that gives you a new loan deadline en you should be able to get your money back if you cancel the purchase prior to at new.
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Do I Get My Earnest Money Back If I Could Not Obtain Financing? – A: First, earnest money deposit checks have to be cashed and held by the broker, a lawyer or title agent in their escrow account. That is completely normal. As far as the refund is concerned, if you had a financing contingency in your contract, then you should probably get your deposit back.
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