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by CareyBot

Editor's note: Robert Bruss is temporarily away. The following column from Bruss' "Best of" collection first appeared Sunday, March 26, 2006. DEAR BOB: I had a contract to sell my home. I gave the buyer seven days to bring me an acceptable mortgage letter from a bank, but he presented a letter from a mortgage broker indicating final approval of his loan was subject to "underwriting." His bank returned his $1,000 deposit check for insufficient funds. Can I legally terminate his contract? --Jorge S. DEAR JORGE: From your description, it sounds like your buyer is in breach of the sales contract. That letter from a mortgage broker indicating his mortgage approval is subject to "underwriting" is worthless. Purchase Bob Bruss reports online. Today's smart home buyers get preapprov...