No. of Recommendations: 1
You tell me that I won't be able to make them sign my altered document, well maybe that will be the case and then there will be no deal. That's it

I can't help but wonder what the sellers approach will be towards your earnest money if your funding falls through on a conventional mortgage because you refuse to sign documents stating that you won't rent it out. If I were the seller I would look at keeping the earnest money. Your loan contingency should state what sort of loan you are applying for. If you agree that this purchase contract is dependent on getting a conventional loan, but then you don't follow convention and it falls through, that opens up a whole new can of worms.

Print the post  


Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.