This is how I understand it:
If you have a financing condition in your offer that you have not waived (or the deadline has passed on) then you either need to buy the house or lose your deposit. That is of course assuming there are no other conditions outstanding on your offer, like home inspection etc that you could somehow invoke to get out of it.
Edit: If it's new, I have no idea. Go with whatever troutman is saying.
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Last edited by Rathji; 10-02-2008 at 08:52 AM.
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