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Updated over 3 years ago,

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4
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Saeed Hadian
0
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4
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Cancelling a purchase contract before removing loan contingency

Saeed Hadian
Posted

Hey guys,

I was in a contract for a duplex in California and had my appraisal and loan contingencies in place. The appraisal came at value but for some reason (finding discrepancy in rent info between listing and seller's disclosures), I decided not to remove my contingencies and cancel the contract. To clarify, my loan was not denied but I had my contingency in place. It's been a week and seller has not signed the cancellation letter yet, they don't respond to our calls or emails. I need my deposit back in my account ASAP for another purpose. Is there anyway to push the seller to sign the letter or somehow expedite this process?

Thank you.

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