Legal Question in Real Estate Law in California

RE: New construction deposit held in escrow by builder

We signed a purchase contract 11 days ago. Construction is still super early. No customization done. We also just learned that our IRS liability is going to make our mortgage too tight. We do not want to be setting our selves up for a future foreclosure. Can we get out and get our deposit back? Is there a 17 day CA timeframe for this purpose??


Asked on 11/28/16, 3:43 pm

1 Answer from Attorneys

You need to have your contract reviewed by an attorney in person. The rules for home improvement contractors do not apply to new home construction.

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Answered on 11/29/16, 12:54 pm


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