No financial contingency on contract...bad?
View your credit file based on any of the UK credit reference agencies, or all three at once
LifeLock is the only Identity Theft Prevention Solution backed by a one-million dollar guarantee!Click here to get a 10% discount.
What state are you in?
No financial contingency on contract...bad?Some realtors shouldn't be giving advice like that out. It is always a good to put in a contingency for finance and not rely on the old home inspection routine. Most of the time it backfires and if it should with your transaction you can sue your realtor and his broker for due diligence. Another RED FLAG is the realtor (who sounds like an agent instead)says that she spoke with the lender and assured her of getting a loan. It doesn't work like that unless she is getting a kickback which is illegal for her to do. Call her and tell her you would like to meet with her and her broker at the office. Tell them that you are questioning the moral and ethical issues having to do with her and the lender and if something should happen, then you will write a letter to the Board of Realtors stating what happened. Your realtor is misrepresenting herself and there are legal problems here.
Make sure you get a home inspection full report that is color coded so you can understand exactly what is wrong with the house. This is an upfront cost that you will not regret paying for should any repairs or replacments be needed.
Do not make up anything about being wrong with the house because if the loan falls through and you say it is something wrong with the house you won't be able to get your deposit back and may have to pay for liquidated damages.
More Related Questions and Answers ...
The loan information post by website user , we not guarantee correctness.