Mean’t to say weren’t denied financing!!! Wrote that in a rush. So if they were denied, buyer gets their deposit back. If they just arbitrarily walk on the deal then seller keeps it. That’s assuming there was a financing contingency.
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At least in WA…If the sale isn’t contingent on financing then that also means there is no appraisal contingency. They are automatically on the hook for the difference between sales price and appraisal amount. I always ask for proof of funds for the down payment plus considerable money towards a low appraisal before accepting an offer.
Personally I would ask to speak with your agent’s manager. Your listing is technically with his/her firm.
