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Can I Back Out Of A Home Purchase Agreement If The Bank Wasn't Able To Approve My Loan?

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    Your purchase contract should state "subject to obtaining a loan..." which releases you of any obligation should you not be able to obtain a loan.  They may also put additional "subject to" clauses, such as "a loan not to exceed 7%" or "subject to approval of your financial advisor" (which can be anybody).

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    Nic7320 

    answered 1 year ago

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