Legal Question in Real Estate Law in New Jersey

Re: is a deposit down payment refundable

It's refundable only if the written Contract says it is, and usually it's refundable only under certain circumstances [e.g., based on inspection or mortgage contingencies] and only within the time allowed.

Read your contract carefully and, if necessary, consult a lawyer to help you determine what your rights are. Don't wait, because you may already be near or have passed the deadlines.

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.

Re: is a deposit down payment refundable

In general, for a residential property it is s refundable so long as your cancellation was permitted by the contract. If you are in breach of the contract it can be held until the other party has determined damages, or until a court orders how it should be disposed of.

For a completely accurate answer you need to have an attorney review the contract and get more facts from you.