买房问题求教各位老大！ 谢谢先！

1 Our purchase agreement shows 60 day escrow with finance contingency (the loan contingency shall remain in effect until the designated loans are funded). Now we're still working on the loan approval. I'm wondering what would happen if we can't close escrow within 60 days due to finance problem? Can the seller cancel the contract? If that happens, can we get our deposit back?

2. The termite report shows there are drywood termites and fungus dryrot. What should we do about these problems?

Thanks!