If your mortgage application is denied or you lose your income before closing, this contingency protects you from being forced to buy a home you can't afford.
Most buyers use "contingency clauses" to exit a deal safely. If these conditions aren't met, you can typically walk away and get your deposit back. backing out of buying a home
Explain your concerns to your REALTOR® immediately. They can help draft a formal cancellation letter and advise on the safest exit strategy. If your mortgage application is denied or you