Legal Question in Real Estate Law in Florida

Return of deposit on newwhome

Signed--name removed--contract to buy new home. Financial situation has changed drastically since signing. Denied mortgage. Builder wants us to accept--name removed--stated income mortgage making it even less affordable than the initial one.Is it possible to get back some or all of deposit?


Asked on 1/04/07, 10:26 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Re: Return of deposit on newwhome

The answer depends on your contract. Without reading it, no one can answer.

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Answered on 1/04/07, 10:37 am
Craig Dorne Craig M. Dorne, PA

Re: Return of deposit on newwhome

The answer will depend upon the contract. Frequently if you do not use the developers lender, you would waive the deposit.

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Answered on 1/04/07, 10:58 am


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