Basically, she wanted to end up with a monthly payment of $2,100 or less, and informed both the seller and the loan officer early in the process that unless they could meet that requirement, she would not be purchasing the unit. No days are stipulated to cancel the transaction or inform the seller of non-financing. The seller can try to hold your friend’s feet to the fire, but not the lender. Your friend should not have paid anything else prior to settlement, at least not to the lender. Plenty of news outlets - print and electronic - would love to do a story on a first-time buyer who is being forced against her will to go through with a transaction she finds unacceptable. Written records will help buyer in deposit dispute with seller - MarketWatch Intraday data provided by Comstock , a division of Interactive Data Corp. Read More