What happens to your transaction if you cannot secure a HML?

[Jonathan Bolano]

I'm wondering what happens when you get n offer accepted and go under contract but cant secure financing with a HML. I am not in this position but just wondering what happens. In a normal sale with a lender the P&S protects against financing not being secured. What happens in the event of a cash deal?

[Dan Barli]

@Jonathan Bolano if you are utilizing HML, then it's not a cash deal. I would make sure there is a financing contingency built into your contract in case the HML falls through