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dkjack
Guest
What is the name of your state? NH
We purchased a home without putting in a contingency to sell our home because the sale of our current home was moving along so well and the sellers of the other home wouldn't accept a contingency. We have signed the purchase and sales on the new house and had the inspection as well as placed a down payment the day of the signing of the purchase and sales agreement. However, the people buying our house just had the inspection and even though we the inspection came back clean (other than the siding will need to be replaced soon), they backed out of the purchase - it was within their window to do so - I just don't understand why they backed out like that though. However, I cannot afford to pay for two houses and I don't know what to do because we are 'locked into the other house' and as I mentioned put a 5% down payment down. We have another week to secure our financing and I am wondering now if our financing will be denied and we can get out due to the mortgage/finance clause because we will not have the 20% we intended to put down as well as now carrying the debt of the other home we haven't sold.
I am so scared and don't know what to do - I just can't see being able to afford two houses until this one sells again.
We purchased a home without putting in a contingency to sell our home because the sale of our current home was moving along so well and the sellers of the other home wouldn't accept a contingency. We have signed the purchase and sales on the new house and had the inspection as well as placed a down payment the day of the signing of the purchase and sales agreement. However, the people buying our house just had the inspection and even though we the inspection came back clean (other than the siding will need to be replaced soon), they backed out of the purchase - it was within their window to do so - I just don't understand why they backed out like that though. However, I cannot afford to pay for two houses and I don't know what to do because we are 'locked into the other house' and as I mentioned put a 5% down payment down. We have another week to secure our financing and I am wondering now if our financing will be denied and we can get out due to the mortgage/finance clause because we will not have the 20% we intended to put down as well as now carrying the debt of the other home we haven't sold.
I am so scared and don't know what to do - I just can't see being able to afford two houses until this one sells again.
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