Found a lovely condo in a decent neighborhood. Asking close to list price and 3% closing costs. I was wondering though, with all contingencies in place, at what point do I lose my EMD besides simply walking away from the deal? We offered more than we would have normally to compensate for the closing costs however, based on my research Im afraid there is a strong possibly the condo will not appraise for the full amount. Also, with the loan structured in this way, it seems as if the seller is not paying the closing costs with them actually being rolled into the loan. Can anyone break this down for me?
Thanks..
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