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Author: inparadise Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 127680  
Subject: Re: question: down payment on my first home Date: 5/16/2013 3:51 PM
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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.

IP
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