What If You Have Already Given Seller The Downpayment
Just curious,
I was reading an earlier post and wondered what would a lender require in this situation. Say a buyer gave a seller 10% as a combo down pay / earnest money where the seller was offering financing. The seller later discovers for some reason he can no longer offer financing and now you have to deal with a lender who can do the deal but wants you to put down 10% @ closing. Assuming you gave the seller downpay in form of check and you could get copy of cancelled check and the owner is considering the money earnest and you could possible loose it if the purchase is not completed, will a lender accept the fact that you have already given seller the downpayment prior to closing
Yes.
hope this helps,
clear2close
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