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what happens to an earnest money deposit if underwriting falls through?
user
your purchase and sale agreement should have a financing contingency. if it doesn't, your money may be at risk, and the agent did you no favor. edit - i answered when away from computer. this is a snapshot of the standard clause from the greater boston real estate board. each state has its own standard documents.   the normal process is to have some level of prequalification, showing a high probability of final approval, make offer, then after it's accepted, this form is part of the purchase and sale process.
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