Legal Question in Real Estate Law in New Jersey

If your contract has a mortgage contingency and you are within the mortgage commitment deadline, you should send a written notice to the Realtors and the Seller saying that you are exercising your right to cancel the contract because you couldn't get a mortgage.

If you waited before making your mortgage application, you may have lost that right. If you waited beyond the deadline of the contingency to give written notice that you are canceling, you will also have lost your right to cancel.

If there are no Realtors and no attorneys involved in this purchase, and you gave the down payment to the seller, you will probably have a hard time getting your money back, even if you are entitled to it.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

Your lawyer should tell you. If your lawyer is not telling you, then call me. I will help you get your money back.

Robert Davies, Attorney

201 820 3460