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Are deposits put down by potential home buyers returned if mortgage is turned down?

April 26, 2017Buyers deposits Home mortgage potential RETURNED turned

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Are deposits put down by potential home buyers returned if mortgage is turned down?

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If nearby is a clause in the purchase agreement that says contingent upon financing, afterwards they are entitled to their deposit. I hope this helps you, best of luck! Typically yes. If you are turned down or denied financing, your…