Q: I was suppose to close on a house yesterday on 10/24/2022 but my loan company has now asked me to verify some bank wires

A: Nobody can competently answer specific questions like this without reviewing the contract, correspondence, and interviewing about the situation. You need a consult with a lawyer critically, and it is possible that, after review, a resolution favorable to you can be negotiated. What is non-negotiable is that revealing the salient details in an open forum on the Internet would be a gruesome mistake for you.

A: It is almost impossible to imagine a buyer not knowing whether their contract offer was contingent on financing. The financing contingency is the single most important and most common contingency in real estate transactions. If, however, you used the GCAAR forms, then some sellers use a perniciously drafted and confusing contingency provision to try to claim the earnest money deposit when financing fails--the exact opposite of what is supposed to happen. However, in your scenario, it appears that the sellers are merely trying to get you to waive the right to reclaim your EMD if financing fails a second time, as a condition to granting you an extension of the closing date. It is not their fault your financing did not come through, and unless the contract provides you a right to extend the closing date, the sellers are within their rights to declare the contract terminated and move on to sell to someone else. You now have a decision to make as to how certain you are that your financing will come through by the next agreed closing date, and whether it is worth the risk of losing your EMD if it doesn't. How's your track record in Vegas? If your lender pulled the rug out from under you once, do you really trust them a second time? You do not say (and do not post an answer), but wired money suddenly appearing in your account to provide closing liquidity from unclear sources can sometimes be a warning sign that you have taken on more debt than was disclosed in your financials on which your loan approval was based, or you misrepresented your available assets and source of funding. It sounds as though the lender is suspicious you failed to accurately disclose your debt or income situation, which may be innocent or intentional. The sellers could use that information (if true) to set aside the finance contingency and claim your EMD even if they terminate the contract now, depending on the terms of the contingency. This is all speculation, of course. But if there is a risk here, you need a lawyer to review what has actually transpired and provide counsel.