[quote=urbanrealtor]2: I feel that it was a bad idea to proceed with an escrow without lender approval…If you have a deposit already in escrow, and you would not otherwise be using the money, then its not the end of the world.
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We are in escrow but our small good faith deposit has not been cashed and is not in the hands of the escrow agent. We have told that the escrow agent that we will not be proceeding until we get lender approval and the escrow agent agrees that this is fair. Whether this is possible is another thing and whether the bank agrees is another as well. So maybe technically we still aren’t in escrow.