In this episode of Turning the Key to Real Estate, host Nicholas Feagley sits down with real estate attorney Brett Woodburn to unravel the complexities of the mortgage contingency clause in real estate transactions. Together, they break down the purpose and evolution of mortgage contingencies, what happens when a buyer is denied financing, and the legal and practical implications for both buyers and sellers. Learn how the LTV (Loan-to-Value) ratio and appraisal issues can impact your deal, why buyers must act in good faith with lenders, and how listing agents play a pivotal role in resolving deposit disputes. Brett and Nick also discuss the documentation needed for releasing deposits, the seller's rights in termination scenarios, and what future changes might be coming to the mortgage contingency clause. Whether you're a homebuyer, seller, or real estate professional, this episode offers actionable legal advice, real-world examples, and expert insights to help you navigate the home buying process with confidence.

• The true purpose and protection offered by the mortgage contingency clause
• The impact of mortgage denial and why buyers don't have a blanket right to terminate
• Understanding LTV ratios and appraisal issues
• The role of real estate agents in deposit disputes
• Documentation and legal steps for releasing deposits
• Anticipated changes in the mortgage contingency landscape

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