Legal Question in Consumer Law in New Jersey

I try to by a condo, the real state agent request $1000 as secured money (earnest money) to sign an offer, the offer was accepted then she refer me to a finance agent tow times, in both times the agent fail to get finance, then the real state ask to terminate the contract saying fail to get finance not of the buyer fault, we terminate the contract after 45 days but she did't want to give me my earnest money ($1000), she said the seller claiming this money because he put the condo on pending sale for 45 days. My question is that legal? How can I get my money back? Please advice. Thanks.

Kojak


Asked on 6/29/16, 8:56 am

1 Answer from Attorneys
Locksley Wade Law Office of Locksley O. Wade

It's legal. It's not the sellers fault that you did not get financing. The seller was injured when the condo was taken off the market. Lastly, take a close look at the section of your sales agreement that covers default for not closing.

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Answered on 7/03/16, 5:02 am


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