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How can I lose my Down Payment?

14 years ago

I'm going on Friday to place a cashier's check deposit of $6,000 on a house that my wife and I want to buy.

We have a pre-qual, of course, but the underwriter has not committed yet. Settlement is on the 29th of May and our broker is ordering an FHA appraiser as I speak. An issue is that another mortgage broker who was not satisfying us had an appraisal done, which I actually scheduled with the appraiser and paid for, and now won't transfer it to the new broker.

So we have a few weeks left, but if the loan does not come through, do we lose the $6,000 deposit?

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