Legal Question in Real Estate Law in Virginia

Financing Contingency

My residential purchase contract includes a contingency that I am able to obtain a Home Equity Loan to fund purchase. The term the bank offers is an equity loan --one for the new home and one for my current home. I am not comfortable with this and want to void the purchase contract. Can I do? Will I lose earnest money. Can any contarct be voided if one accepts the loss of earnest money?


Asked on 3/06/08, 7:01 pm

1 Answer from Attorneys
Michael Hendrickson Law Office Michael E. Hendrickson

Re: Financing Contingency

An attorney should review this residential purchase contract and the relevant facts surrounding its making and execution in order to provide what hopefully would be reasonably reliable answers to these questions.

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Answered on 3/07/08, 11:37 am


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