The answer is “it depends”. Without the specifics of your purchase agreement, I can not give you a clear answer. Did you make your offer contingent on getting financing? Are you approved for that financing? These are two important questions for you to answer and you may need to seek legal advice on those answers.

I’m sorry for the reduction in your stock portfolio. These are challenging times for all of us. Good luck,
Steve

I just send you a email but it doesn’t post.My question is that if we can’t come up with the down payment will the seller return our deposit 30k. We suppose to down 450k at that time, now we only have 200k because the seller and loan officer said i don’t need the money till Sept and told me that i can left in the stock acct so the stocks go down from these two month from 600k to 200k. I wish they told me to take out the money and put it in the bank. The seller said they can’t return the deposit , is that true?

Thanks,
Susan

Thank you. Even though the original fax is the one without parcel # and question 5 fill in but it did give me the fax confirmation report. I hope they did get both of the fax. Let hope for the best.

Thanks,
Susan

It sounds like you are on your way to a California Tax Credit! Make sure you keep the original fax report for your records. And, I suggest you wait three of four months before contacting the FTB about processing your paperwork. They are really backed up right now!

Steve

Thank you. My husband took to his company to fax it for the second time with the parcel # and 10,000 on question 5 and shrink down the contract to 8×11 so he can fax. However the fax machine just said “sucessful” but didn’t print out the report. For the first time, I faxed it at time, it did print out the report and with the date and time stamp. Hopefully they did get it though even though we don’t have the fax confirmation on the second fax.

Thanks,
Susan

The following is from the FTB FAQ page, question #9:

“It will probably take FTB 3-6 months to respond to your application or reservation request. We must build a new computer system before we can begin verifying the applications and reservation requests. Please wait at least 4 months before contacting FTB regarding your application or reservation request. Because of this delay, it will be important to keep a copy of the fax confirmation.”

Good luck!
Steve

Thank you ! Since I don’t have the title report or enter into escrow yet so I called the seller agent for the parcel #. I wrote on my cover page with the explanation of why i need to refax it. My husband shrink the contract agreement long legal page into 8×11 so I can fax it to FTB. I am afraid that they don’thave the long legal page so it only show up half the page so my husbsand shrink it down but it is kind of small. Hopefully they can read it. The first time, we just fax the long contract agreement but i afradi that they didn’t get it. Will they send us something in the mail that they got it?
How long will it take before we receive anything from FTB?
Susan

According to the FTB, if you need to make a change or addition to the form, after you have faxed in form, they ask that you re-fax the form with a letter of explanation as to why you are sending in the form a second time. This will help FTB coordinating the dual forms for the same escrow and to process the corrected form with a minimal amount of delay.

You can add the parcel number to the form, that info should be on your escrow statement or title report.

Good luck,
Steve

I just noticed that the seller didn’t provide the parcel number and I read on the form that you need to provide it right?

Thanks,
Susan

I got back the 3549 RR from the seller on Sat and Fax it to 5/15 to FTB however the seller did help to fill out part IV but forgot to check on line 5 (it was blank) They check yes on line 4.They did fill out the escrow info for me. My husband just fill out page 2 buyer info and fax it in on Sat 5/15. Now I need to refax the form again to FTB. I hope it is ok. Since they can confirm on the form that they got the correct form or not.

Susan