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Be absolute to include contingencies in your offer so that you will have a time period to thoroughly go through property and reject the offer if something major was discovered.
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This problem is made worse by bank’s deteriorating financial condition. At the beginning at 2007, banks had $1.80 in cash reserves there are numerous dollar of loans which were past due. So even if all those loans went belly up — and not simply all past-due loans will — finance institutions were well over covered. Today, banks only have about 80 cents just about every dollar of problem best loans.
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