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Update on Buyers Loan Being Pulled

This is an update to my previous post.

We are closing tomorrow with the same buyers, different lender. It seems that the issue was the buyers used the Mortgage Forbearance and had to make 3 payments to be caught up. They made 2 payments then sold the condo. Because they didnt follow the protocols exactly there was an issue.

We did sign the amendatory clause. We weren't happy with it, but it was the quickest way to close, plus we didnt have to show the house empty and risk getting a lower offer. The buyers also signed an amendment granting us $3k credit for closing.

Very stressful sale. If this was a different market I'm not sure we would have trusted the buyers, but they are 'homeless' and there is so little inventory on the market in our price range that we assumed they didnt want out.

submitted by /u/diskfreak3
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source https://www.reddit.com/r/RealEstate/comments/n1isdm/update_on_buyers_loan_being_pulled/
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