I brought this up regarding failed DROS (not me) in general not my wife made me take it back kind of thing. Different? I think so. If you change your mind, then I agree. $50 is fair.
Let me say it another way. The home you bought. What if the seller wanted $3,000 "good faith" to hold house during escrow? Then, loan company denied you. Yes, even after the "pre-approval" letter anyone can get. I speak this from experience as my ex was a licensed RE agent and we both went to college to get our license back in the late 90's. I just choose a different route. Anyway, so, you have letter in hand, put a $3,000 check down, and the very next day your denied. Your telling me you wouldn't have an issue? Ya, most would. Some may type on here "its all good" but my experience not one person EVER said that in RE contract. Every single person wanted that deposit back. Can we say "complained"? I personally wouldn't get into a contract like that.
Let me say it another way. The home you bought. What if the seller wanted $3,000 "good faith" to hold house during escrow? Then, loan company denied you. Yes, even after the "pre-approval" letter anyone can get. I speak this from experience as my ex was a licensed RE agent and we both went to college to get our license back in the late 90's. I just choose a different route. Anyway, so, you have letter in hand, put a $3,000 check down, and the very next day your denied. Your telling me you wouldn't have an issue? Ya, most would. Some may type on here "its all good" but my experience not one person EVER said that in RE contract. Every single person wanted that deposit back. Can we say "complained"? I personally wouldn't get into a contract like that.



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