Legal Question in Real Estate Law in Connecticut
Real Estate Deposit
I put down a deposit to buy a house. I was unable to secure a mortgage and would like to get my deposit back. What are my rights in Connecticut?
Asked on 1/18/07, 7:22 pm
1 Answer from Attorneys
Nicholas Adamucci
ADAMUCCI, LLC
Re: Real Estate Deposit
It largely depends on the terms of the contract. Your contract should have a mortgage contingency clause. By this I mean, you purchase the house only if you obtain a mortgage. In the event you cannot obtain a mortgage, you shouldn't have to proceed with the purchase. But again, one would have to look at the contract itself.
If you need assistance with this, you can visit my website at www.findctlawyer.com or email me at [email protected]
Answered on 1/18/07, 7:56 pm
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